Along with the banking industry’s digital transformation, comes significant challenges in the operational model as well as customer and business strategy to remain competitive. Given in this article are few of the real-life challenges faced by banks, and the strategies adopted by the banks to succeed in the coming year and mitigate the risk posed by these challenges. Overcoming these challenges is not easy and the transition from legacy systems to innovative solutions requires various coordinated steps to survive but thrive in the current landscape.
The banking industry is undergoing a radical shift fueled by ever-changing technology, competitive landscape driven by new FinTechs, evolving business models, mounting regulation and compliance pressures, and new disruptive technologies. Given in the article are some of the real problems faced by banks and how they worked through them.
The purpose of this project is to identify a single segment within the mass market with the intent of creating a specific value proposition (s) relating to either the current account or personal loan product.
The effort should assist the business in helping to acquire a greater number of new clients by more effectively designing, developing, and marketing the product offerings and value proposition.
As Marketers are increasingly being asked to maximize their budgets, there is a desire to correlate various marketing expenditures with business metrics to demonstrate relative efficiency and effectiveness in ability to drive profitable growth.
Cutting costs is critical to navigating the slowdown. In the absence of clear MSE methodology marketers run the risk to not being able to protect critical investments. Bank has not been able to generate such analysis internally due to its multi-variate nature, and is currently reliant on econometric models provided by media agencies.
This project will identify alternate best practices for correlating marketing spend to business results. The project team will
Consumer business completed a detailed client segmentation and profitability study. Business strategy is being formed around the segment approach. Channel strategy, service levels, value props, product offering, and risk approach are about to align with the new strategy.
The project team will consist of representatives from Risk, Pricing, Marketing, and Retail sales and product teams. The project team will
TDs are a very popular way to save. Whilst they represent large commercial benefits to banks, the margins are generally very low. 40% of the Bank's deposit balances are held on TD products. Most banks take a very simple approach to price TDs by offering a rate (which may be tiered) for a specific term. On maturity, it is rolled over into a similar term at the prevailing rate unless the customer specifies otherwise. This approach does not take into account individual circumstances, price sensitivity, etc.
Develop new approaches for TD pricing/product development, which enable banks to retain more balances, improve overall margins, and also to attract new customers. The project team will
The share of the online channel among overall sales of term deposit and personal loans is below the penetration rate of Online Channel usage among the bank.
The deliverables include:
Our target is to reach all the needed data in one report for each company. Also, we need this data to update itself automatically.
The project group will:
|Overview of Banking||What is Bank||Definition of Bank|
|History of Banking||Famous Banks||Gold Standard|
|Sectors in Banking||Segments in Banking||Different Types of Banks|
|Banking Transactions||Banking Operations||Banking Business Model|
|Banking Trends||Banking Value Chain||Banking Customers|
|Banking Functions||Bank Balance Sheet||Bank Revenue Model|
|Different Types of Payments||Modern Banking Products||Banking Regulations|
|Banking Projects||Banking Landscape||Risks in Banking|
|Types of Banks in India||Islamic Finance||Social Media in Banking|
|Digital Channels||Banking Challenges||Technology Risk|