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Aarkstore.com announces, a new market research report is available in its vast collection: Next Generation Branch Banking http://www.aarkstore.com/reports/Next-Generation-Branch-Banking-201960.html RSS Feed http://www.aarkstore.com/feeds/timetric.xml Synopsis This VRL report looks at the reasons why branch banking footfall is on the decline in the West. • The report considers what banks must do in order to reverse the impact this will have on branch and operating profits • Case studies from the US and across Europe are featured, highlighting moves being taken to automate functions, build brand awareness and establish flagship branches, amongst others • It weighs up the conflicting messages which are being thrown up – some of the issues are structural, some cyclical. Summary The number of in-branch transactions in mature markets has declined by a quarter over the last four years, from roughly 11,400 transactions per day (on average) in 2006 to 8,550 in 2010. 39% of customers visit their bank branch less than once a month, while 20% visit the branch less than four times a year. 20% either never visit their branch, or had visited it three months ago or more. In the US, it is estimated that 40% of bank branches are unprofitable. Consumers in mature banking markets are visiting branches less frequently and when they do, it is to conduct low margin transactions. With product demand in stagnation and with service perception acting as a key factor for attrition across all mature markets, the branch will have to rethink the way it engages with its customers. Now more than ever, banks must recognize how to get value from their branch networks. The biggest obstacle facing retail banks is their underlying reluctance to rejuvenate the bedrock of their back-office operations. Innovations inevitably involve high costs and disruptions to customer service, and this is something banks are sensibly trying to avoid. When the current infrastructure was devised and rolled out, the banking habits of consumers were vastly different. All activity related to loans, credit cards, mortgages and investment opportunities were fundamentally impossible to perform outside of the branch. Customers have moved on since the 1970s and technology is now part and parcel of the banking experience. Unfortunately, it seems that the majority of banks are still tuned into this branch-centricity which positions the branch at the centre of the whole experience. There are now a number of channels in operation, and banks must make more to include them in the design and marketing process of their products. Scope • This report looks at the reasons why branch banking footfall is on the decline in the West • It considers what banks must do in order to reverse the impact this will have on branch and operating profits • Case studies from the US and across Europe are featured, highlighting moves being taken to automate functions, build brand awareness and establish flagship stores, amongst others Reasons To Buy • Discover in this report why branch visits are down across all demographics and mature markets • Develop a strategy to improve service culture across all channels • Identify the impact changing consumer expectations is having on personal banking relationships • Learn what strategies banks can employ to become centres of profitability Key Highlights • Customer loyalty is no longer guaranteed in retail banking • Retail banks in mature markets have, for a long time, relied on silos to launch and maintain their products • This approach encourages competition between departments (and channels) and in the quest for customer acquisition/retention, the overall service experience is dismantled • Banking customers of today live in an age of instant access and instant gratification • The main reason why branches underperform is a combination of the location, the format and the activities that take place inside each branch • By prioritizing the branch and overlooking alternative channels, banks have not only misjudged the behaviour of their customers, they have patently lost sales opportunities either through badly designed e-channel processes or by targeting customers with irrelevant marketing messages Table of Contents : Executive Summary Chapter 1: Say goodbye to your branch... The branch is expiring... Trapped within silos - banking products and staff are set up to compete rather than collaborate with one another How are branches being utilized by customers in 2011? Visiting patterns Branch usage Customer channel preference The benefits of a multi-channel mindset: cross-selling opportunities Should banks be investing in branch networks? Turning tellers into sellers Cross-selling opportunities Change the channel: looking beyond the branch The cost of the branch But if the branch gets the majority of the sales revenue, why should banks look to other channels? Advertising dollars are migrating too... Best practices in channel migration CASE STUDY: Unicredit - boosting sales through migration CASE STUDY: Denizbank - innovations in channel management sit well with the youth of Turkey Key takeaways Chapter 2: Changing consumer behaviour - the role of empowerment Always connected: “I sent you an email 10 minutes ago, why haven’t you replied?” Empowerment: the world of radical transparency Customers have learnt how to be needier: Maslow’s hierarchy of needs The role of technology Consumers are running out of patience: the stress of waiting Baby Boomers So what does that mean for banks? The emergence of the dialogue Key takeaways More Related Reports : Life Insurance in the UK, Key Trends and Opportunities to 2016 Reinsurance in the UK, Key Trends and Opportunities to 2016 Paints and Varnishes in BRIC – Market Opportunity and Environment, Analyses and Forecasts to 2016 Personal Accident and Health Insurance in the UK, Trends and Opportunities to 2016 Contactless Cards - Tentative Steps Alternative Payment Channels Banking Trailblazers - Winning Strategies in Retail Banking Next Generation Branch Banking Leasing Life Handbook 2012 Cards and Payments in Asia-Pacific Wealth Management in Asia Corporate Payments The Indian Prepaid Card Market Making Money from Micropayments The Multi Family Office: A Solution for the Ultra High Net Worth Client? http://www.aarkstore.com/publishers/Timetric--125.html For More details about above & other Reports plz contact : Vina Aarkstore.com Contact: Marketing team Mob.No.918149852585 Email: email@example.com URL: http://www.aarkstore.com/ Or Follow us on: You can also request for sample page of above mention reports on firstname.lastname@example.org
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