RETAIL BANKING

RETAIL BANKING IN INDIA ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

SUMMARY ,[object Object],[object Object],[object Object],[object Object]

SUMMARY CONTINUED….. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

THE RETAIL BANKING STRATEGIES ADOPTED BY A FEW NEW AGE BANKING ORGANIZATION IN INDIA. DISCUSS…

RETAIL BANKING STRATERGIES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

RETAIL BANKING STRATEGIES CONTINUED…. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

WHAT ARE THE STEPS TAKEN TOWARDS TRANSFORMING RETAIL BANKING BY BANKS LIKE SBI?

STEPS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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3. SHOULD RETAIL BANKING BE TREATED LIKE RETAIL STORES IN TERMS OF ITS OPERATIONS TO MEET WITH SUCCESS IN INDIA AS SUGGESTED BY BCG?

PRESENT SCENARIO ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

ECONOMY VS. RETAIL BANKING ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

MARKET SHARE: RETAIL LOAN - 2005

BANKING LIKE RETAIL STORE ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],RETAIL BANKING V/S RETAIL STORES

RETAIL BANKING IN RETAIL STORES WAY… AS IS / BEFORE TO BE /NOW PRIORITY Credit & Risk Customers & retailing APPROACH Secure & conventional location for financial transactions (Banks dictate terms) Customer centric retail banking (Customer is King) CUSTOMER BASE Corporation & other banks Retail consumers, corporate clients, other banks FORMATS Single Entity Multi-location, multi branch MORE EMPHASIS ON Improving transactional efficiency Providing service and value to consumers CUSTOMIZATION Rarely there Highly customized

RETAIL BANKING IN RETAIL STORES WAY TO IMPROVE FIVE FOCUS AREAS RETAIL STORES APPLICABILITY TO RETAIL BANKS IMAGINATION Sell dreams, Offer a vision where customers can go. Sell dreams of comfortable & secure retirement plans etc. EMOTIONAL CONNECTIONS Provide information, Serve & create bond e.g. Update new plans tapping new needs FUNCTIONAL & TECHNICAL ADVANTAGES Retail stores provide value- added products & services Create products & services with act as differentiator PERSONALIZED CONTACT Data warehousing, data mining e.g. advices on money management depending on individual needs TESTING & IMPROVEMENT Keep experimenting New methods, plans, Implement & improve

RETAIL BANKING IN RETAIL STORES WAY… FIVE COMMANDMENTS RETAIL STORES APPLICABILITY TO RETAIL BANK SEGMENTATION, TARGETING, POSITIONING accordingly make product offerings simple & relevant e. g. positioning HBOS :Consumer champion in Britain CUSTOMER RELATIONSHIP Track & correct mis-perceptions of customers Feedback,complaints,helpdesk. COMPETITION Survey competitors: offerings, strategies & promotions & beat them Competitor oriented strategy, Be updated & improve PROACTIVE Listen to customers continually & carefully Unstated needs identification INCENTIVES Performance based To Sales & frontline, back-office staff

CONCLUSION ,[object Object],[object Object],[object Object]

RETAIL BANKING

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RETAIL BANKING