The battle for retail bank customers
My slides from Bankdagen 2010 (“The Bank Day” in Swedish) in Stockholm are available on Slideshare: http://www.slideshare.net/TietoCorporation/the-battle-for-retail-bank-customers-bankdagen-2010.
Main points are:
1) Swedish retail banks are facing a fierce competition from both specialized banks and from different industries such as mobile operators. They need to adapt or slowly fade away.
2) To challenge the niche banks, they need yo activate their biggest cost disadvantage, the branch offices, and make them their biggest strategic resource for customer intimacy. This can only be done through excellent multichannel customer interaction management and what we call “The human-assisted web”.
3) The big banks can only compete efficiently in areas of fast growth, such as mobile payments, if they create bold and agile units outside of the ordinary structures. “A camel is a horse painted by a committee”.
Tags: retail banking
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