The Art of Better Retail Banking: Supportable Predictions on the Future of Retail Banking / Edition 1by Hugh Croxford, Frank Abramson, Alex Jablonowski
THE ART OF BETTER RETAIL BANKING.
With evolutionary changes alone, retail banking has been and will continue to be an important force in any country. So, enjoy it - or change it. Consumers have enormous power to cause changes; banks have all the capabilities to make changes; the government of the day relies on banks' abili5ties to change. Can they all win?/b>… See more details below
THE ART OF BETTER RETAIL BANKING.
With evolutionary changes alone, retail banking has been and will continue to be an important force in any country. So, enjoy it - or change it. Consumers have enormous power to cause changes; banks have all the capabilities to make changes; the government of the day relies on banks' abili5ties to change. Can they all win? And can the bank's shareholders join in the party too?
The Art of Better Retail Banking fives a wide-ranging view of the industry as a whole as it is, and how it might become. retail banking is taken as a practical , integrated subject, not as a collection of specialist subject that magically come together of themselves to provide an integrated solution. It is written, and strongly influenced, by retail banking practitioners to include the running of banks, strategy, marketing and IT, and with realistic and practical views, It relates to how banks operate day to day, how they make (and lose) money, and how they fit into the various banking models.
Retail banking is not the same as bank retailing. there is much to be learned from others in manufacturing, retailing and service companies. retail banking is not different to these. How long will it take banks to improve their manufacturing, retailing and service activities? Or will information processors, retailers and others learn about banking more quickly? A race is on, there is much at stake. Is there a winning line, and if there is, how far away is it, and in which direction?
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Table of Contents
Background and Acknowledgements.
About the Authors.
Part I: SETTING THE SCENE.
1.2 Science and engineering.
1.3 Science, art and engineering.
1.4 A brief look back, and the culture of retail banking.
1.5 The view from the bridge.
1.6 We have to start from where we are.
1.7 Are banks ‘unpopular’?
1.8 The path to popular popularity.
1.9 And get this too . . . .
1.10 Change is in the air – confidence, simplicity, speed.
2 The Basic Model.
2.1 Profit and return on equity.
2.2 Capital requirements.
2.3 Interest spread and interest margin.
2.4 Non-interest income (fees and commissions).
2.5 Costs and the cost/income ratio.
2.6 Loan losses.
2.8 Our loan of £1000.
2.9 Performance measurements.
2.10 The different businesses within banking.
2.11 Assets, liabilities, treasury, capital markets.
2.12 Caveat – definitions.
2.13 To really understand it without it hurting.
2.14 Some further points.
3 Accounts, Services and Channels.
3.3 Services – fee-based and commissions.
3.4 Delivery channels.
3.5 Bank cooperative channels.
3.6 And some other points.
4 Real Banks and Challenges.
4.1 Some lists of banks – international banks.
4.3 UK banks.
4.4 A little more detail on some UK banks.
4.5 Building societies.
4.6 The challenges for banks.
4.7 Costs and the cost/income ratio.
4.15 Key observations.
5 Systems and Information Technology (IT).
5.1 Legacy systems.
5.2 Banks are dependent on data and information processing.
5.3 Information technology will become a major differentiator.
5.4 IT and the retail banking industry.
5.4.1 There are additional pressures now.
5.5 The IT industry is not without blame.
5.6 Resolving the legacy systems problem.
5.7 A new approach from the IT industry and from banks.
5.8 Applications solution/software licensing.
Part II: THE PROPOSITIONS.
6 The RealWorld.
6.1 Basic findings on business strategy.
6.2 Investment intensity – a big difference.
6.3 The people, processes and technology of capital investment.
6.4 Product/service fitness-for-purpose.
6.5 Brand, service, fitness-for-purpose, price.
6.6 Products and price.
6.7 Reinvention and invention.
6.8 How big is the opportunity?
7 The Propositions.
7.2 Customers – life events management and lifestyle choices.
7.3 The very different starting points of banks.
7.4 The strategies.
7.5 For established banks.
7.6 For new banks.
7.7 SWOT summary.
7.8 The starting point.
8 Preparing for the Future.
8.1 Evolution, tactics, limits – the obvious stuff.
8.2 The critical stuff.
8.4 Marketing and brand power.
8.7 Deciding on the change itself.
8.8 Establishing the basic inputs.
8.9 Discovery process.
8.10 Establishing the business model.
8.11 Establishing the business plan.
8.12 Big banks in particular.
8.13 Is there really a choice?
8.14 Much of the writing is on the wall.
9 Predictions for Retail Banking.
9.1 A framework for the ‘simple’ predictions.
9.2 Simple ‘we know that already’ predictions.
9.3 Meeting customer needs at the lowest cost.
9.4 Research and development.
9.5 Winners and losers.
9.6 A look over the horizon – some braver predictions.
Appendix A: List of Acronyms.
Appendix B: Glossary.
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