Transformation banking distribution

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Transformation of banking distribution to create the banks of the future


Transformation of banking distribution into digital obviously can help retail banks to improve the quality of their services and the process of the transaction, but this option also offers the possibility of increasing by more than 40% the gain of better taxes, interest, depreciation, and amortization within the five years to come. The effects of digital on the amount of the costs and loss provision are more positive than the profits raise, and produce nearly the two-thirds of this probable value. Paying attention to the front-end investments is thus essential.


The transformation of banking distribution: how can it be profitable?


The transformation of banking distribution into digital offers many advantages for the banks to reduce their main costs, in several ways. But the two most interesting and most gainful fields are the possibility to automatize the services and transaction processes to better satisfy the customer, and the adoption of digital channels to replace front-of activities. With automatized internal processes through efficient use of work-flow solutions and a customer and staff self-service, 40 to 90% of the costs of European banks can be reduced.


Talking about the front-end makeover, the use of digital tools can be run to maximize the frontline services beyond the adoption of digital channels for converting the branch activity. Digitalization of forms, video calls for councils, etc., are thus solutions that can facilitate the banks staff’s results and improve the clients’ experiences.


The possibility of a revenue increase is not determined


European financial institutions should also search for a wider range of possibilities as the improvement of customer targeting through digital marketing and micro segmentation, the optimization of pricing and of bundling of products by re-energization, the integration of third party as social networks, the white-labeling of products, the optimization of the distribution, but over all these, specific mobile and online sales offers have to be established.


The transformation of banking distribution into digital has to deal with new high quality products including like credit cards, loans, and payments, as shorter-tenure are also expected. The new user of digital banking solutions mostly focus on these fields. When we push the analysis further, as more than half the majority of the financial institutions’ revenues come from bank accounts and mortgages, and as these latter bring “thick” annuity flows, they will naturally join the movement. Considering this evolution, European bank should take care about the development of their digital share and the efficiency of the digital products in the front book. The digital skills will be the basement of the increase of the additional rate of the annuity streams. More precisely, this solution has to be used in the aim of not being too much involved into the untruthful security given by the back book and to insure the security of the transactions for the years to come.





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