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Topic : Retail Banking
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What's next- Should retail banks go back to basics?

Created by : Swati Raut, Product Manager, Aviva  | 11 17 2009 10:59:22 +0000
Industry : BankingFunctional Area : Strategy Alignment(Strategy & Execution)
Keywords : banks retail banks back to basics
Activity:  505 views;  last activity : 07 06 2010 20:18:09 +0000

The recession seems to be over. Experts have started to speculate a recovery of the global economy soon. Some might contradict that, but it is a breather considering the notion that at least the global economy will not fall anymore.  But before breathing easy we might want to look back and learn a few lessons from the turbulent periods. So what should retail bankers do next- Is it they have to continue with their growth and development process or, should they go back to basics??

  
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yes, world over customers are conscious that gone are days of financial modeling and exotic products who never understood that over leveraging is dangerous. So its back to basics with CD ratio below 100.
By Debapratim Das, Head of Corporate Credit Analysis Team, HSBC  11 23 2009 16:11:17 +0000
 
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No, there is no requirement for that. Innovation is one thing which is required the most in the banking industry, going back to basics will not serve any purpose. People love the modern banking system. We need further innovation in the banking industry to cater to client needs
By Nidhi Agarwal, Asst. Manager/Manager -(NonTechnical), Indiabulls Securities Ltd  11 23 2009 17:45:52 +0000
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Customers want banks to focus on their core business of lending and investing, and to do it responsibly. There is no getting away from the fact that the economic landscape is more challenging than a year ago, and business
thinking is reflecting this at every turn. There is nothing like an economic downturn to sharpen corporate minds. When budgets are being cut, and all aspects of a company’s behaviour are under scrutiny, every investment and outlay has to really and truly prove its worth.
By Swati Raut, Product Manager, Aviva  | 11 17 2009 10:59:22 +0000
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I don't see any need for that.There is a need of constant innovation in retail banking. In bracing for tomorrow, a paradigm shift in bank financing through innovative products and mechanisms involving constant upgradation and revalidation of the banks’ internal systems and processes is called for. Banks now need to use retail as a growth trigger. This requires product development and differentiation, innovation and business process reengineering, micro-planning, marketing, prudent pricing, customisation, technological upgradation, home / electronic / mobile banking, cost reduction and cross-selling.
By Jyoti Rath, Sr. Associate, Barclays  | 11 17 2009 11:02:27 +0000
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