The retail banking industry is in the midst of the most profound set of changes in its history. A challenging economic and regulatory environment, changing consumer behavior, new business models disrupting the traditional order, channel shifts and the rise of digital—these forces are reshaping the industry so dramatically that it will be hardly recognizable in a matter of years. And in this dynamic environment, standing still is no longer a viable option.
Instead, banks must pursue game-changing initiatives, including developing an omnichannel customer experience, transforming branches, redefining pricing for retail products, courting the mass affluent segment and revamping loyalty programs.
To effectively accomplish these strategic goals, retail banks will also need a new set of tools, including improved analytics and market analysis capabilities and an effective test-and-learn approach, all supported by an integrated IT platform.
Learn more about changes in retail banking, the new tools available in the industry and the initiatives retail banks are pursuing by downloading this white paper.
14 November 2013