Use the case studies, expert analysis articles, people-ready solutions, and other information presented in this section to find out how your company can strengthen its customer relationships.
Retail Banking in the New World of Work
By Dan Rasmus
Over the next 10 years, retail banking will face many challenges of global proportions. Feeling the increased pressure from industry consolidation, growing regulatory scrutiny, and more demanding consumers, banks will be forced to adapt to external conditions to survive. Other changes of equal importance will come from within. A big one is the arrival of a new generation of "millennial" workers—individuals born between 1983 and 2000—who have dramatically different outlooks and work styles compared to earlier generations.
The right investments in technology and software can help banks adapt to these changes. But the real key to capitalizing on new opportunities is by empowering bank staff to add additional value, whatever their job role or skill level.
What's more, investments in systems that lock people into low-value roles in the hopes of containing costs will not succeed in a fast-paced, customer-centered world. In contrast, empowering people can make a difference at every level by:
- Driving customer loyalty through personalized service delivery.
- Discovering innovative processes and new services that better meet customer needs.
- Managing partner relationships in anticipation of market changes.
- Maximizing productivity to drive operational excellence.
The goal of Microsoft Corporation is to make it possible for banks to succeed by giving people the right tools, information, and access to expertise in order to deliver high-value products and services in this "new world of work." Today, these capabilities are integrated into the next-generation of Microsoft Office and Microsoft Windows products and platforms. For tomorrow, we see these environments evolving to address the changing needs of retail banking.
Always On, Always Connected
As the costs of mobile devices and connectivity continue to fall, more retail banking customers will expect the convenience of security-enhanced banking on their mobile devices. For example, using mobile systems for Web access, e-mail, and making payments—all over secure wireless connections—will become routine for the most competitive banks. Meanwhile, bank branches will use location technologies to help customers who are using personal mobile devices find convenient branch locations, receive personalized offers, and access services.
Branching out. Once tomorrow's customers enter the branch, maintaining a favorable customer experience will be critical. The use of location services will help bankers keep track of customers, reduce wait times, and improve security. Furthermore, integrating location services with existing customer files will give bank representatives a complete view of the relationship. Integrated location services also will help banks anticipate customer needs, personalize service delivery, and streamline transactions.