Our retail banking teams are led by partners with a wealth of client experience and relationships with many of the major market players, regulators and leading industry bodies. We listen to our clients and focus on the issues that really matter.
- Growth —branch banking is being revitalised and multi-channel delivery continues to evolve. Mobile payments and pre-paid cards are taking off and ageing populations are helping to drive demand for new and different products.
- Performance — retail banks face some specific performance challenges. They must efficiently manage a range of different distribution channels; branch, telephone, mobile and internet banking are all in demand, often by the same customer. They must get a balance between in-sourcing and outsourcing and build effective relationships with suppliers. They must remain vigilant against financial crime, which can adversely affect the bottom line and their reputation in the market. Whilst doing all this they must continue to improve customer satisfaction which drives cost sales.
- Governance — generally speaking, governance, internal control and risk management in the retail banking industry is strong. Basel II is having a significant impact on the industry but its effects and requirements are well understood and the techniques for the management control and trading of credit risk are well advanced. But the liquidity crunch has demonstrated the need for constant vigilance to test all realistic scenarios and to build strategies for survival.
We welcome the opportunity to discuss how KPMG can help you achieve your business objectives.