The following is the Retail banking transformation consulting service solution From Future bank 2.0 recommended by recordtrend.com. And this article belongs to the classification: kpmg , research report.
Retail banks have become the most important source of income and growth engine of traditional Chinese banks, but compared with developed markets, there is still a huge space for future development. China’s private sector continues to accumulate social wealth, constantly awakened or developed demand for financial services is the driving force of the rapid development of retail banking.
However, in recent years, the rapid changes of customer demand, financial technology, regulatory policies, market opening and competitive environment have brought great challenges to the development of traditional retail banking.
The first is the upgrading of customer demand characterized by the decline of customer loyalty, the diversification of customer demand for products and services, and customers’ more attention to experience. The difficulty and cost of acquiring and maintaining customers are rising.
Secondly, the rapid development of third-party payment and mobile Internet has brought about the “disintermediation” of bank retail customer finance, and the “total failure” of bank online scene and payment end.
The third is the ecological changes of competition and cooperation among banks, non bank financial institutions and financial technology companies in terms of channels, products and customer services. Small and medium-sized banks are facing greater competitive pressure.
Fourthly, the rapid development of digitalization and financial technology has changed the customer operation mode, product and service delivery mode, and risk management mode of retail banks, which has brought challenges and impacts to the retail business mode of traditional banks.
The future is coming! KPMG future bank 2.0’s retail banking solutions provide you with “from strategy to implementation” services from development planning, digital transformation, organization and operation optimization, information technology planning and implementation, risk management, financial management, business analysis, to customer, product, channel and service system upgrading.
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