Paul Thomen
Showing posts with label Retail Banking. Show all posts
Showing posts with label Retail Banking. Show all posts

Friday, 24 January 2014

RnRMR: Retail Banking and Social Media - 2020 Foresight



The Report “2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? ″ by Timetric is now available at RnRMarketResearch.com. Contact sales@rnrmarketresearch.com with 2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? ″ in subject line and your contact details to purchase this report or get your questions answered.

The collection of ‘Banking & Financial Services Company’ market research reports has a new addition of “China fertilizer manufacturing industry, 2014” on RnRMarketResearch.com. 


Summary

Social media presents a valuable opportunity for retail banks. As internet access and Smartphone adoption increase, a growing number of internet users are becoming involved with social networking. Companies are changing their business models and product offerings to be able to cater to the ballooning market of social media users. Banks and other financial institutions are engaging customers with social media, which is shaping up as a strong channel to promote new schemes, identify customer needs and receive feedback. Although the use of social media remains risky territory for many banks, some have started to explore opportunities in this channel and have set out many best practices examples that can act as guiding principles for other banks and financial institutions.


A primary question plaguing the banking industry on the use of social media concerns return on investment (ROI). There are doubts over the credibility of social media as a key component of business models due to a lack of tools to measure quantifiable results. The potential benefits are more of qualitative in nature. Despite initial skepticism by retail banks, social media is expected to emerge as a complimentary channel, rather than replacing existing channels such as television and newspapers. Financial services companies use various channels to market products and services, and consumer opinion is now measured as an aggregation of experiences across these channels. Over the next five years, banks are expected to focus more on synergies that can be generated by social media and other key channels, rather than calculating ROI in the social landscape.

Complete report is available @ http://www.rnrmarketresearch.com/2020-foresight-retail-banking-and-social-media-do-the-ends-justify-the-expense-market-report.html . Read more on 2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? ” report below.
Scope
·         This report provides a comprehensive analysis of social media marketing strategies adopted by the retail banks across key emerging and developed markets.
·         It covers key trends and provides analysis of various stages in the use of social media by retail banks, with each stage’s potential to influence customers.
·         It details various operational, technological and regulatory issues and challenges faced by retail banks while adopting social media marketing strategies.
·         It covers industry best practices and an effective framework for the adoption of social media as a marketing tool.
·         It provides case studies on social media marketing strategies implemented by various retail banks.
List of Tables
Table 1: Impact of Social Media on Banks’ Business Structures
Table 2: Social Media Across Retail Banking Functions
Table 3: Global Markets by Unique Video Viewers, December 2012
Table 4: Social Media Marketing in Brazil
Table 5: Presence of Retail Banks on Social Networking Sites in Brazil
Table 6: Key Banks in Brazil and their Popularity on Key Social Networks
Table 7: Social Media Marketing in Russia
Table 8: Presence of Retail Banks on Social Networking Sites in Russia
Table 9: Key Banks in Russia and their Popularity on Key Social Networks
Table 10: Social Media Marketing in India
Table 11: Presence of Retail Banks on Social Networking Sites in India
Table 12: Key Banks in India and their Popularity on Key Social Networks
Table 13: Social Media Marketing in China
Table 14: Social Media Marketing in the US
Table 15: Key Banks in the US and their Presence on Social Media Sites
Table 16: Key Banks in the US and their Popularity on Key Social Networks
Table 17: Social Media Marketing in the UK
Table 18: Key Banks in the UK and their Presence on Social Media Sites
Table 19: Key Banks in the UK and their Popularity on Key Social Networks, July 2013
Table 20: Market Environment for Social Media Marketing in Germany
Table 21: Key Banks in Germany and their Presence on Social Media Sites
Table 22: Key Banks in Germany and their Popularity on Key Social Networks
Table 23: Social Media Marketing in Australia
Table 24: Key Banks in Australia and their Presence on Social Media Sites
Table 25: Key Banks in Australia and their Popularity on Key Social Networks

For further information on 2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense?” report OR for any other business research / market intelligence need on the ‘Banking & Financial Services Company’ market (www.rnrmarketresearch.com/reports/business-financial-services/financial-services/banking-financial-services-company   . ), contact sales@rnrmarketresearch.com / Call +1 888 391 5441.

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Friday, 13 September 2013

2020 Foresight Self-Service Branch Banking Report at RnRMarketResearch.com



The report “2020 Foresight Report: Self-Service Branch Banking” by Timetric is now available at RnRMarketResearch.com.com. Contact sales@rnrmarketresearch.com with report name in subject line and your contact details to purchase this report or get your questions answered.
 


The retail banking industry’s banking channel has evolved from traditional full-service branch banking to alternate channels such as online, mobile and self-service. Full-service branches still play a key role in the distribution of banking products and services as banks rely on these branches to generate the vast majority of revenue. However, the operating expenses and infrastructural investments associated with full-service branches encourage banks to consider low-cost self-service branch banking to expand their market presence. Banks have redefined branch banking following the financial crisis in order to maintain operational efficiency and to improve overall financial performance. While full-service branches remain the primary contact point for customers, banks realize that the expansion of the branch model is not sustainable due to rising real estate costs and changing consumer preferences. Low-cost channels such as self-service, online and mobile banking have therefore been gaining momentum. These channels are adopted with the aim of cost-effectively expanding business in rural and unbanked areas.


Scope

  • This report provides a comprehensive analysis of self-service branch banking business models adopted by retail banks

  • It gives insight into the various trends seen in self-service branch banking

  • It details insights on the operational, technological and regulatory drivers driving the growth of retail banks while offering services under self-service branch banking

  • It details the implementation strategies and best practices adopted by retail banks to offer their self-service branch banking services across the globe
  • It provides case studies on self-service branch banking implemented by various retail banks and their outcomes

The number of ATMs deployed in key countries increased during the review period (2008–2012), making them the most widely-used self-service banking model. In the US, the total number of ATMs increased from 425,010 in 2008 to 444,872 in 2012.

The adoption of new technology enables banks to upgrade their branch banking models with advanced banking features and to distinguish themselves from competitors. Such features include biometric ATMs for secure banking transactions and contactless ATMs for faster transactions. Furthermore, the use of videoconferencing in ATMs enables interaction with bank employees for banking assistance.

Retail banks around the world seek to expand their business footprints in unbanked and under-banked areas to target new customers and gain market share. However, the establishment of full-service branches is not always feasible for banks due to the costs associated with it, driving banks to adopt the self-service branch banking model to remain cost-effective. Banks set up these types of branches in remote areas and at places with high customer footfall such as stadiums, shopping malls, railway stations and marketplaces.

The penetration of self-service branches has increased as banks are more reliant on offering quality service and enhanced customer experiences through facilities in these branches such as automated self-service kiosks, flagship branches, contactless ATMs and in-store self-service branches. Consumers can now conduct around 80% of banking transactions through ATMs and other automated banking channels without staff assistance.


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