One of the easiest ways to generate radical solutions to vexing problems in your industry is to
look outside of your sector. This is why it's vitally important for retail bankers to look at what is happening in the real world of retailing, and then apply those insights to their own business.
In retail many business models are approaching the end of their life cycle and new models are replacing them at an increasingly rapid pace. Banking business models are under the same pressure.
The Next Retail Banking Revolution offers over 100 tips from the real world of retail; tips that will help you to re-invent your bank and re-evaluate your retail banking strategy.
It is easy to forget that retail bankers are part of the retail sector. You supply products and services to normal consumers and small- and medium-sized businesses. You cater for basic needs just as supermarkets or furniture stores do. You have a lot more in common with these sectors than you might think.
A lot of fundamental changes are taking place in retail. Business models are being toppled every day: video and DVD rental stores are gone, post offices are closing, record and CD shops are disappearing and supermarkets and department stores are becoming increasingly active online.
Your banking business model is being eroded too. You may mistake certain signs of erosion as the side-effects of the financial crisis, but this report will demonstrate that your business model is just as much in need of 'revolution' as all of these other retailers.
Written by Hans Eysink Smeets, a retail strategy consultant, alongside Karin Montagne and Rik Eysink Smeets, the report offers insight and lessons from the sectors the authors specialise in: retail chains, fast-moving consumer goods, post offices and the car industry. They use their in-depth knowledge of the retail banking sector to identify and apply their retail strategies to banking.
Written with the forward-looking retail banker in mind, The Next Retail Banking Revolution gives you the tools you need — and the inspiration — to rethink your business model, become efficiently consumer-centric and create sustainable change while simultaneously reducing your costs and prices.
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