The Retail Bank of Tomorrow: A Platform for Interactions and Financial Services. Conceptual and Managerial Challenges

Abstract

Banking without boundaries will grow in the future, most of this because of digital business transformation. Banks need to re-interpret their business and look for a different managerial approach. A bright future for retail banks will depend above all on taking today the right actions for a long profitability, which are based on developing and reinforcing customer trust. The current account is the hook service for a bank to defend and reinforce from the competition, because it is the bank’s platform for entering and developing its business. At the beginning, the retail bank of tomorrow should look at developing value in core contents as well as orchestrating a platform strategy, but moving from a technology idea of platform towards managerial and economic dimensions of it. Because technology is nothing without a strategy.