Building a 'winning' retail bank demands significant investment in three core areas: branch banking, core modernisation technology and mobile money. Allied with a long-term vision, commitment from senior management and an environment that fosters innovation, a retail bank can outsmart and outperform its competitors. The single most important attribute that unites winning banks is the expansion of branch banking because they recognise the branch is the foundation of the customer experience, and when they get this right, they can start to achieve operational excellence and grow market share. Core modernisation technology comes in second place and this requires considerable investment. For example, Commonwealth Bank of Australia (CBA), one of the 'winning' retail banks in the report, invested A$1.1bn ($1.18bn) in its new core banking platform. However, core modernisation technology delivers efficiencies. Already, CBA expects cost savings by the end of FY2012 because of its investment. Finally, the world's winning retail banks have harnessed innovation in contactless payments and targeted the mobile channel as a battle point between them and their competitors.