How to make money in a zero interest rate economy
The New Economics of Banking - how to make money in a zero interest rate economy
What (products), when (lifestage), who (provider) and how (channels) end users are interacting with their banks is changing. The value of each individual banking relationship is changing, for all parties. For retail banks, the current value chain of retail banking is suffering. Short term solutions of driving more acquisition aren’t sustainable, or scalable (for challengers or legacy banks alike). A more fundamental approach to how you make money is required.
The New Economics of Banking provides an approach to pivoting your organization from products to sell, to customers to serve (and retain). Built with inputs from over 50 industry leaders, our proprietary research provides the backbone for a new Retail Banking business model; the outcome of which is deeper customer engagement, stronger short term revenues, and long term value from across the entire ecosystem (not just end-users).
We’ve made the hard stuff easy and broken the approach down into 5 clear steps. Each step starts with data, expertise and products that already exist within your business today - it’s just about utilizing our methodology and way of working to unlock their growth potential.
We equip Financial Service providers to build profitable customer relationships through:
Customer first strategy and proposition development
Ecosystem value evaluation
Orchestrated, audience specific Customer Experience
Tech and data strategy
Identified £1bn+ in additional annual value to UK economy across across product enhancements
Defining a growth strategy and execution plan for a new leadership team
Elevated the UBS Philantory offering, for their global audience of high net worth individuals
Developed propositions to stand out, improve delegate retention and average order value
Identifying growth opportunities for the UK’s leading inter-bank mobile P2P payments service
Steering the strategy of a world-leading switching service to meet evolving and increasingly complex customer needs
Jo leads our Financial Services practice. With over 20 years of experience helping financial services transform their business and tech to deliver customer first relationships. Her experience means she seen it all, and played agony aunt and solution creator to banks across the world. Any questions about where you should start, or what comes next, just drop her an email.