The future of retail banking by rraul


									                           The future of retail banking

The changes in the financial services industry are so rapid that it is difficult to know what
the future will be like. Changes in customer behaviour and the broader market structure,
regulations, and new technology rapidly transform the way banks work. It is against this
background that the project 'The Future of Retail Banking' was started in 1998. The
project involves researchers in Sweden, Norway, Finland, and Estonia. The framework
identifies the relationships between banks and customers as the key strategic component
in banking. The changes taking place in banking will converge on the behaviour in
business relationships between banks and their customers. This is studied in two ways.
Firstly, the learning taking place within relationships between banks and their customers
is studied. A key strategic asset of banks is their knowledge of heterogeneous local
markets, and the project studies how this knowledge may be used to create a dynamic
and value-adding interaction with customers.

The project also studies how banks act as transaction providers, professional service
providers, and nodes in networks of interconnected flows of knowledge and financial
assets linking their customers. This system provides a means for analysis of where value
can be created in banking, which is pivotal to bank strategies. The study is conducted
together with Professor Grönroos, Svenska Handelshögskolan, Finland, Professor
Fjeldstad, BI Oslo, Professor Sõrg, Tarttu University, Professor Listra, Tallinn University
of Technology, Estland.

Project period:
1998-02-01 - 2007-12-31

Source of funding:
The Göran Collert Foundation

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