Retail Banking

The everyday life of our society is increasingly influenced by digitalization. While the baby boomer generation is increasingly enjoying digitization, digital natives are already used to being able to control all communication and business on the move from their smartphones.

The banking business is facing disruptive change. Digital banks have long been established and are increasingly taking market share away from traditional institutions.

Sustainability is a central topic in the financial industry – with a development path to 2023. In addition to regulatory minimum requirements regarding sustainability, we expect a change in customer behavior. This requires banks and asset managers to position themselves clearly and transparently.

The branch as the central point of contact for customer needs has largely become obsolete.
Between 2008 and 2019, the number of stores in Germany fell from 42,000 to 30,000. Corona acts as a catalyst for further consolidation of the branch network

More than 60% of all developed strategies fail in their implementation. Either their result falls short of expectations or they are discontinued after some time. In times of rapidly advancing digitization, the complexity of implementation increases enormously.

Online giants such as Amazon are prime examples of how companies can incorporate customer feedback directly into the further development of their services. In banking, this influencing factor is still treated as a secondary factor, yet it is fundamental for increased sustainable performance.