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Our work with retail & small business banks

The world of retail banking has changed. Digital-first challengers are earning market share by offering better experiences and lower fees, and delivering a product that consumers have come to expect.

Retail banks must quickly evolve—reimagining the business model and value proposition—to remain competitive. Growth may require redefining business models, prioritizing new markets to serve, and rethinking which services to offer.

Banks must also develop the agility and capabilities to match the speed of competitors, leverage analytics and manage bank resources to meet the evolving needs of their customers.

We work closely with banks to define these needs and take immediate action, helping with everything from reinventing the strategic vision and overhauling tech infrastructure to implementing a full-scale transformation and reskilling employees.

What we do

Establish a strategy for growth
Redefining value propositions, expanding into new segments, and reimagining branch and distribution strategy.

Streamline the bank
Building agility and efficiency to accelerate the speed of operations and decision making.

Deliver a personalized experience
Unleashing data and analytics to embed banking into customers’ lives, create an omnichannel experience, automate financial advisory services, and personalize products.

Build new businesses
Creating new offerings to expand the bank’s relevance for customers by identifying innovations and launching new products, partnerships, and business models.

Upskill the workforce
Building skills and capabilities to vault branch employees into high-value roles, such as specialized relationship managers and product experts, and ensure that business improvements are felt by everyone.

Modernize core tech
Establishing state-of-the-art technology backbones and tech partnerships to deliver a superior digital experience, significantly reduce costs, and accelerate time to market for innovation.

Protect against risk
Leveraging digital and analytics and taking a risk- and value-based approach to accelerate remediation and develop a strong defense.

Featured Insights

Article

A digital approach to SME banking
– Small and medium-size enterprises are a clear growth opportunity for banks in a difficult environment. A digital-first approach with a personal touch can help banks crack the code of this historically overlooked segment.
Report

Reshaping retail banks: Enhancing banking for the next digital age
– The current model of universal retail banking is unsustainable over the long term. To thrive, banks need to reinvent themselves, focusing on businesses where they can achieve and extend market leadership in the new digital world.
Article

Best of both worlds: Balancing digital and physical channels in retail banking
– Banking distribution needs to account for the evolving interdependencies between channels. Accelerating digital and upgrading the physical experience to “phygital” offers a viable solution.

Connect with our Financial Services Practice

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