The good news is that retail banking transactions volumes are growing steadily. The bad news is that a growing number of these transactions are not profitable. Consumer demands and competitive pressures have forced many banks to launch new channels, services and transactions (e.g. mobile access to account information and basic banking transactions, etc.) at great expense without a solid business model for generating revenue. It takes time to evolve a new business model; strategies must be devised, products must be developed, launches must be executed and customers have to be convinced. In the meantime, you need strategies for managing zero revenue banking transactions…
Read this BAI Banking Strategies article, by INETCO’s President & CEO, Bijan Sanii.