When Customers design banks: Cashless, No Fees, High Touch, Multi-channel and Multi-national

Technology is redefining how financial service providers interact with customers. To date the provider has been in control; however, the relationship with customers is about to take a drastic change as customers will soon be able to design their own banking relationships. However, on the horizon are new opportunities for fee income, cross selling, cost savings and revenue enhancement from understanding the fundamentals of customer expectation management, transaction data, segmentation and relationship building. This lecture examines how banks can capitalize on the new wave of banking products as customers become the drivers of delivery technologies, channels, products, fees and services. This look at the trends that are reshaping the industry spans 12 countries and 3 decades to give us a glimpse of what is to come during the next 5 years as banking reinvents its relationship with customers.