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Posted in Community :

Banking & Insurance Professionals

 
Started by : Shan Gehlot, Product Manager, Citibank   03 06 2009 10:02:51 +0000
Industry : BankingFunctional Area : Business Models(Strategy & Execution)
Activity:  26 views;  last activity : 07 06 2010 20:18:09 +0000

During all this recession  period, where banks are finding it difficult to sustain its customers and survive this tumultous period which will be there for another year, where there is nothing much happening in any of the industrial sectors or in the corporate sector, where there is more layoffs than ever before, banks are finding it difficult to do business during these conditions. So my question to all banking professionals is during this scenario and keeping future in mind what sort of products should retail banks provide to its customers??

 
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1 One stop shop

One stop shop

idea posted by Shan Gehlot Product Manager, Citibank

According to me they should provide everything at one place like they should take care of their Financial needs, Non-financial advisory services that are an extension of financial assistance in services such as like travel needs, education planning, health, financial supply chain eco-system, and so on. so it should provide one stop shop for everything at the Retail banks.

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by Jyoti Rath, Sr. Associate, Barclays  | 04 07 2009 10:43:04 +0000

Mr. Vivek i would agree with you.If banks want to sustain and survive in these tough times then they should quickly do changes in the way they provide services to the customers.And on way ca be to provide all services at one place as mentioned by Mr. Shan.But what are the other ways they can adopt to improve their business?

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one stop shop .This is what most private banks are doing.The most important is providing value for money to the customers.We need to readymade the product as per customer need of mass market.Which is actualy not happening.Penetration is lacking,There is still large population which is not part of banking products in india.

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