Retail Banking 2020

The future of the retail banking industryRetail Banking 2020
In this section...
 
 

Powerful forces are reshaping the banking industry, creating an imperative for change. Banks need to choose what posture they want to adopt - to lead the change, to follow fast, or to manage for the present. Whatever their chosen strategy, leading banks will need to balance execution against 6 critical priorities and have a clear sense of the posture they wish to adopt. However, each of them is important, and success will come from a balanced execution across these priorities – and a balance of tactical initiatives and longer-term programs, all coming together as an integrated whole.

Opinions

What are top executives saying?

"Online fund transfer and security transfers is of high importance for the banking industry.”

Japan, global bank, less than US $500 million

What are top executives saying?

“Financial institutions do not spend money in rural areas. If banks provide all the facilities to rural areas then this industry will grow.”

Netherlands, regional banks, US $500 million to less than US $500 billion

What are top executives saying?

“Customer -centric technologies should be improved.”

Australia, global bank, $500 billion – $1 trillion

What are top executives saying?

“Useless regulatory requirements increasing cost. Cause of crash was not LACK of regulation, it was lack of regulatory competence.“

USA, regional bank, less than US $500 million

What are top executives saying?

“Competition is increasing so developing innovative products can be good for the banking industry to grow.“

Australia, regional bank, US $500 million to less than US $500 billion

What are top executives saying?

“Employee retention should be a key factor when developing changes within a company to ensure top talent sticks around.”

USA, global bank

What are top executives saying?

“Banks and staffing will be what drives the industry. People to people sales will lead the way.”

USA, regional bank, less than US $500 million

What are top executives saying?

“It is very important that the banking industry concentrates on customer products and a reduction in the number of products offered that are marginally profitable.”

USA, global bank, US $500 million to less than US $500 billion
 

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61% of bankers say a customer-centric business model is “very important”
 

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Learn what factors are transforming the global retail banking landscape and the 6 imperatives banks will need to consider to be successful.

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Contacts

John Garvey
US & EMEA Banking and Capital Markets Advisory Leader
Tel: +1 (646) 471-2422
Dean Nicolacakis
Financial Services Institute Leader
Tel: +1 (415) 498-7075
David Hoffman
Banking and Capital Markets US Practice Leader
Tel: +1 (646) 471-1425
Jeremy Fox-Geen
Banking and Capital Markets
Tel: +1 (646) 471 6398