The Art of Better Retail Banking (eBook)

Supportable Predictions on the Future of Retail Banking

Hugh Croxford, Frank Abramson, Alex Jablonowski (Autoren)

eBook Download: PDF

2005 | 1. Auflage
302 Seiten
John Wiley & Sons (Verlag)
978-0-470-01481-3 (ISBN)

Infos

"This new book on retail banking is both readable and innovative.Its analysis is unusually accessible in its style, and the book'sconclusions and predictions will be rightly thought provoking. Thecustomer is gaining real power and this new book's insights on theimportance of leadership, the need to unleash creativity and tomake a bank's IT and people resource work together more effectivelyfor customer satisfaction are important pointers to the shape offuture competitive differentiation."
--Sir Mervyn Pedelty, Recently retired Chief Executive, TheCo-operative Bank plc, smile, CIS and Co-operative FinancialServices

"A stimulating read. A readable and lively book that is alwaysinformative, sometimes controversial and invariably challenging.The authors don't expect readers to agree with it all, but thereaders will undoubtedly gain some fresh insights and perspectiveson the multiple issues facing management in a rapidly changingindustry."
--Chris Lendrum CBE, Recently retired Vice Chairman, BarclaysBank

"This book is clear enough for the layman and thorough enough forany banker to obtain an excellent sense of the options forsuccessful strategies for their retail businesses. The challengesof technology introduction, cost of production and scope of serviceare driving banks into responses increasingly similar to otherindustry sectors. These forces have been apparent for some yearsbut are so evident now they can no longer be ignored. This bookprovides an excellent guide to mapping that future."
--Joseph DeFeo, CEO, CLS Bank.

"This is a useful guide to retail banking that provides athought-provoking view on the state of The Art (of Better RetailBanking). Clearly retail banking can get better, and must! To stealan analogy from the conclusion, there is a sea change going on -consumers are looking more and more for greater simplicity andvalue, and so many banks are still making such heavy weather of it.This book does a good job of charting the currentdevelopments."
-- Lindsay Sinclair, CEO, ING Direct UK.

"A whistle-stop tour of all aspects of retail banking. This is avery readable and insightful real world mix of theory, strategy,tactics and practice. They have even managed to make banking soundexciting. But mostly they have been able to cut through thecomplexity to remind us all that success in retail banking is notjust about finance and efficiency - it is about customers andstaff, who are all too often forgotten about."
--Craig Shannon, Executive Director - Marketing, Co-operativeFinancial Services.

"The authors live up to their promise of providing managers andstudents with a clear exposition of the retail banking sector andhow banks can confront the challenging future they face. This bookis a practical manual with lots of useful advice. I was looking fornew insights in this book - and I found them!"
--Professor Adrian Payne, Professor of Services Marketing,Director, Centre for Services Management, Cranfield School ofManagement.

"A key determinant of any organisation's success will be anenhanced understanding of 'value' as defined by customers,employees, shareholders and other stakeholders. Value can meandifferent things to these different groups, and this book has setitself the objective of identifying the approaches that willimprove the value proposition for all of these interested parties.It achieves this objective."
--Professor Steve Worthington, Faculty of Business and Economics,Monash University.

"An enjoyable and useful read. It provides a good perspective onthe role of IT and how IT suppliers and professionals need tocontribute to future developments in retail banking strategy andimplementation. It helps provide guidance for the significantchallenges ahead for both suppliers and the Banks."
--Nick Caplan, Managing Director, Global Financial Services,LogicaCMG.

Autor

About the authors Hugh Croxford After a career in banking, Hugh now assists banks and IT companies in interim capacities, much of which involves creative writing. Frank Abramson After a successful marketing career in FMCG, retailing and financial services at senior and Board levels, Dr Frank B Abramson co-founded The Relationship Consulting Group in 1992. Today he is CEO of RCG and also holds non-executive director posts with Intramezzo, Verdandi and M-I-G. Alex Jablonowski Formerly, Alex held a number of senior roles in banking, latterly as CEO of a London based merchant and private bank and before that Managing Director responsible for international corporate and institutional banking at Barclays. He now has a number of advisory and non executive roles including the Highways Agency, Veterans Agency and Companies House.

Inhalt

Preface.

Background and Acknowledgements.

About the Authors.

Part I: SETTING THE SCENE.

1 Introduction.

1.1 Objective.

1.2 Science and engineering.

1.3 Science, art and engineering.

1.4 A brief look back, and the culture of retail banking.

1.5 The view from the bridge.

1.6 We have to start from where we are.

1.7 Are banks 'unpopular'?

1.8 The path to popular popularity.

1.9 And get this too . . . .

1.10 Change is in the air - confidence, simplicity, speed.

2 The Basic Model.

2.1 Profit and return on equity.

2.2 Capital requirements.

2.3 Interest spread and interest margin.

2.4 Non-interest income (fees and commissions).

2.5 Costs and the cost/income ratio.

2.6 Loan losses.

2.7 Taxation.

2.8 Our loan of £1000.

2.9 Performance measurements.

2.10 The different businesses within banking.

2.11 Assets, liabilities, treasury, capital markets.

2.12 Caveat - definitions.

2.13 To really understand it without it hurting.

2.14 Some further points.

3 Accounts, Services and Channels.

3.1 Accounts.

3.2 Payments.

3.3 Services - fee-based and commissions.

3.4 Delivery channels.

3.5 Bank cooperative channels.

3.6 And some other points.

4 Real Banks and Challenges.

4.1 Some lists of banks - international banks.

4.2 Globalisation.

4.3 UK banks.

4.4 A little more detail on some UK banks.

4.5 Building societies.

4.6 The challenges for banks.

4.7 Costs and the cost/income ratio.

4.8 Risks.

4.9 Differentiators.

4.10 Acquaintanceships.

4.11 Trends.

4.12 Competition.

4.13 Pricing.

4.14 Roundup.

4.15 Key observations.

5 Systems and Information Technology (IT).

5.1 Legacy systems.

5.2 Banks are dependent on data and information processing.

5.3 Information technology will become a major differentiator.

5.4 IT and the retail banking industry.

5.4.1 There are additional pressures now.

5.5 The IT industry is not without blame.

5.6 Resolving the legacy systems problem.

5.7 A new approach from the IT industry and from banks.

5.8 Applications solution/software licensing.

Part II: THE PROPOSITIONS.

6 The RealWorld.

6.1 Basic findings on business strategy.

6.2 Investment intensity - a big difference.

6.3 The people, processes and technology of capital investment.

6.4 Product/service fitness-for-purpose.

6.5 Brand, service, fitness-for-purpose, price.

6.6 Products and price.

6.7 Reinvention and invention.

6.8 How big is the opportunity?

7 The Propositions.

7.1 Customers.

7.2 Customers - life events management and lifestyle choices.

7.3 The very different starting points of banks.

7.4 The strategies.

7.5 For established banks.

7.6 For new banks.

7.7 SWOT summary.

7.8 The starting point.

8 Preparing for the Future.

8.1 Evolution, tactics, limits - the obvious stuff.

8.2 The critical stuff.

8.3 Customers.

8.4 Marketing and brand power.

8.5 Costs.

8.6 Staff.

8.7 Deciding on the change itself.

8.8 Establishing the basic inputs.

8.9 Discovery process.

8.10 Establishing the business model.

8.11 Establishing the business plan.

8.12 Big banks in particular.

8.13 Is there really a choice?

8.14 Much of the writing is on the wall.

9 Predictions for Retail Banking.

9.1 A framework for the 'simple' predictions.

9.2 Simple 'we know that already' predictions.

9.3 Meeting customer needs at the lowest cost.

9.4 Research and development.

9.5 Winners and losers.

9.6 A look over the horizon - some braver predictions.

10 Conclusions.

Appendix A: List of Acronyms.

Appendix B: Glossary.

References.

Index.

Produkt-Details

• Erscheint lt. Verlag: 5.8.2005
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Schlagworte: Bank • Finance & Investments • Finanz- u. Anlagewesen
• ISBN-10: 0-470-01481-4 / 0470014814
• ISBN-13: 978-0-470-01481-3 / 9780470014813