| Abstract | According to a report published by The Economist Intelligence Unit written in cooperation with Coopers & Lybrand, retail banking in the twenty-first century will be very different from today. The report concludes that the successful bank of the future - "Tomorrow's leading retail bank" - will need to adapt rapidly to the radical changes of customers behavious, due largely to the influence of new technology, by adopting a stronger customer focus; expanding the product range to include investment and risk products, and possibly, advice; by expanding and improving services delivery reducing the costs through centralization of bank office processes and increased use of outsourcing; and by reorganizing its resources, e.g. retraining staff to bolster relationship management and selling skills. |
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