Changed general conditions
The banking environment is shaped by various influencing factors and trends. These include regulatory requirements, the competitive situation, but also customer satisfaction or technological developments. Observers even speak of a veritable crisis of purpose in which the banking business model finds itself:
Dissatisfied clients and those willing to switch
Studies in Switzerland and neighbouring countries show a relatively high proportion of dissatisfied bank clients. Among other things, this can be attributed to a gap between client needs and the actual services offered. The per capita earnings of dissatisfied customers are significantly lower than those of particularly satisfied account holders, who purchase more products, stay longer with the institution and recommend it more often.
Strategic need for action
Our observations show that many banking institutions are prioritising automation in order to increase their efficiency. In order to strengthen the future viability of a company, it is necessary to find the right balance between cost optimisation and investments. This includes decisions on:
- Target customers,
- product and service portfolios,
- distribution channels,
- process organisation
All this contributes to increasing efficiency and generating growth again. Finally, the mobilisation and qualification of employees also plays a central role in the upcoming transformation tasks of banks.