The Next wave of Retail Banking: Product Innovation on Personalized Banking, Selling Mixed Financial Products
Learning how to lead the next wave of Retail Banking and creating the “Next Big Thing” In the industry will always lead your organization and brand to greater heights and greater profitability. In recent years, thanks for economic development around the globe, citizens across countries have a growing demand for financing services because of the rapid growth of their financial assets and at the same time, banks will have to be innovative in their financial products and services to a greater extent.
How to lead ‘Product Innovation’ on Personalized Banking Products and Cross-Sell Mixed Financial Products
In becoming a Product Innovator in Retail banking Sector it is always important to identify and be aware of current industry trends and to meet peer groups in a forum where industry could focus on future strategies and identify consumer patterns to develop product brands. The 5th Annual Retail Banking Forum which is scheduled to be held from 1st to 2nd June 2017 at Crowne Plaza Berlin, Germany is one of the major such key events that lead and help Retail bankers to fully capitalize on the potential of innovation to achieve long-term growth and profit objectives.
The Next Wave of Retail Banking Technology is going to disrupt the more lucrative retail-banking segment whilst many institutions continue to pursue growth strategies that succeeded in the past, even though the environment has changed dramatically. Most institutions have grown via mergers and acquisitions or by expanding physical distribution, not through innovation. The recent research conducted by globally renown consulting power houses suggest that the ability to develop the right innovation strategy to achieve growth is a leading concern highlighted by over 25% of retail banking services executives in several major countries. Some institutions mistakenly believe that innovation means “following the herd” whilst these organizations latch onto the same new trends as their competitors, from implementing mobile banking to embracing social media. By understanding that the need for innovation is urgent, and dispelling the myths about what it requires, retail banking institutions could build the potential to achieve the superior business results that most other industries have already realized.
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