Evolving Models of Retail Banking Distribution
Capitalizing on changes in channel usage
Retailers have long been the envy of bankers for their ability to develop and navigate channels and their responsiveness to customer needs. While many financial institutions have embraced similar strategies, they often fail to deliver strong results – particularly in terms of cross-sell rates and customer retention.
In our new point of view " Evolving Models of Retail Banking Distribution: Capitalizing on changes in channel usage," produced by the Deloitte Center for Banking Solutions, we examine how reformatted branches and alternative retail distribution channels for banking services are likely to become increasingly important in the near future. The challenge for banks today is to move from a retail model that emphasizes transaction processing and operational capabilities to one that focuses more effectively on the needs of customers.
Evolving Models of Retail Banking Distribution is the second in a series of articles produced by the Center on Reinventing Retail Banking. Each of these pieces examines how banks must move beyond simply meeting their profit and growth goals to delivering more completely on the customer experience. In this report, banks need to create a seamless, multichannel experience for consumers that a customer-centric retail orientation brings.
Learn more in the report attached below.