Retail Banking: regaining customers’ confidence How to remain a trusted partner in a commoditised banking world

How to remain a trusted partner in a commoditised banking world Point of view to get there. together. 3 Point of view editorial Retail Banking: regaining customers' confidence How to remain a trusted partner in a commoditised banking world the current economic environment has highlighted just how significant a role retail banks play in our society. in the midst of the financial turmoil, retail banks have found themselves firmly in the spotlight. Although the sector has, in the main, weathered the economic storm, it has prompted banks to reconsider their activities and put customer service back at the heart of their strategies, thus contributing to rebuilding trust. However, retail banks are still facing many challenges: customers' changing behaviour, the impact of new technologies, but also the emergence of new competitors and new banking models from emerging countries. How retail banks control their position and image in society and coordinate their multi-channel offerings, such as online and mobile banking, contact centres and social media, all need to be discussed and understood in the context of this constantly-changing environment. BearingPoint would like to share some of our thoughts on the trends in retail banking and in doing so, highlight a number of best practices among retail banks. to do this, we have drawn on the expertise of our consultants in the fields of retail banking and customer relationship management across europe. we hope you find the following points of view useful and insightful.