New Financial Services research report from Timetric is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 10/03/2013 -- Banks across the world are revisiting their operational strategies, branch banking models, distribution channels and expansion strategies to achieve cost efficiencies and increase profits. To increase profitability, the focus is on selling high-margin profitable products and services, and scaling down unprofitable operations. There has been increased emphasis on utilizing technology to improve profitability and achieve cost efficiencies; the role of technology has changed from being a process driver to a revenue generator. Retail banks are using technology to increase profitability by utilizing customer relationship management (CRM) systems and consumer analytics to identify new customer groups and offer customized products and services to targeted customers. In addition, key measures adopted by retail banks to improve operational efficiencies include an increase in information technology (IT) spending and upgrading IT systems.
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- Global banks are currently seeking opportunities to enter high-growth emerging markets to drive revenues.
- Banks are divesting unprofitable business segments, product offerings and customer groups that are not part of their core business strategy.
- There will be increased investment in self-service and digital media channels to communicate with customers promptly and effectively.
- Banks are expected to increase their spending on integrating distribution channels to provide a seamless customer experience across all distribution channels.
- Use of business intelligence analytics to develop products and services that fulfill the unique needs of customers is expected to be at the core of banks' product-design strategies.
- This report provides a comprehensive analysis on various strategies adopted by banks to maximize cost efficiencies
- It provides detailed analysis on current and future drivers of retail banking profitability
- It outlines the impact of current regulatory changes on branch banking
- It provides insights into technology strategies adopted by retail banks to drive profitability.
- It examines the best-practice product design frameworks adopted by retail banks to drive profitability
- It examines the best practices in distribution channels and consumer-engagement strategies adopted by retail banks to drive profitability
- It presents case studies which illustrate how retail banks across different markets have successfully implemented expense management best practices to successfully target customer groups and achieve cost efficiencies
Reasons to Get This Report
- Gain insight into the various strategies adopted by banks to maximize cost efficiencies
- Learn about the most effective banking business models
- Understand current and future drivers of retail banking profitability
Companies Mentioned in this Report: Citibank, Bulbank, BankAtlantic, BBVA, Danske Bank, ASB Bank, Maybank, Union First, Mauritius Commercial Bank, Korea Exchange Bank, Wells Fargo, ABN Amro
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