A recent Mckinsey report on the future of customer led retail banking distribution highlights four strategies for Banks to retain and Acquire more Customers as follows:                              

  1. Consistent Altering of the administration Policy
    • Put in place dynamic goals for advice, sales and service channels.
    • Consistent modification of branch appearance and networks.
    • Ensure flexibility in staffing.
  2. Initiate and adopt new methods
    • Initiate and extend isolated advisory as a new avenue.
    • Relocate customer communication to self-assistance avenues.
    • Offer intellectual tools for customer communication.
  3. Implement new sales approach
    • Initiate new sales strategy in relation to feedback from customer communications.
    • Acquire advanced business intelligence solution as the central mechanism for lead generation (Click: JETHRO's Business Intelligence product).
    • Ensure a strategic approach of sales marketing on all digital channels.
  4. Upgrade all channels to digital technologies
    • Ensure branch operations are digital and paperless.
    • Enhance efficient management by providing digital interactions.
    • Build and adopt customer journey softwares on all channels.