Today, retail banks - serving individuals, families and small businesses - increasingly manage issues like competition and globalization, convergence and innovation, all leading to commoditization of services. Technology has itself contributed to commoditization. The omnibus Banking and Financial Services (BFS) industry has easily seen the largest investments in IT, leveraging technology to dramatically improve productivity and service delivery.

However, exposure to technology has empowered retail customers and they expect customized, low-cost, one-stop-shop services, as well as 24/7 information. But actual banking technology platforms are woefully disparate, decentralized or unconnected and unable to support them. Delivery channels such as branch networks need to complement telephone and Internet banking, not replace them. All this means that Retail Banks need to have not just integrated but convergent systems.

Created on the basis of insights derived from serving the Retail Banking business since the early 90s, our Retail Banking Value Map provides a quick overview of our key value propositions.