How technology is threatening the traditional European retail banking model
The ideas and viewpoints from this report provide valuable references for domestic banks to develop retail banking business in China.
With the rapid developments and innovations in technology and industry, retail banks are facing many threats. These include a shrinking depository base when borrowing is shifted to capital market, greater competition in the retail banking market, the independent aggregator's ability to offer "best buy" services, and emerging business models using new technology to re-invent key elements of financial services.
To deal with these challenges, banks need to re-invent themselves with a new vision of how they can best serve the financial needs of retail and business customers, and an operating model and cost base designed around that vision.