Multichannel delivery has truly arrived in the retail banking, private banking and wealth management sectors. Customers are spoilt for choice when interacting with their financial services providers and the quality of delivery – whether it be through branch, call centre, ATM, kiosk, internet or mobile – is improving all the time.
There is no shortage of expert opinion on the topic. In Europe, the European Financial Management and Marketing Association (EFMA) keeps track of the latest developments in retail banking, insurance and investments, and disseminates ideas through surveys, reports and events. EFMA’s retail banking advisory council, made up of senior executives from a wide range of banks, describes itself as a leading “think tank”, exploring “new avenues of thought, new technologies and new strategies that could help banks to restore consumer confidence, develop new business models and achieve greater long-term efficiency and profitability”.
