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| Preface | |
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| Background and Acknowledgements | |
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| About the Authors | |
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| Setting the Scene | |
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| Introduction | |
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| Objective | |
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| Science and engineering | |
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| Science, art and engineering | |
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| A brief look back, and the culture of retail banking | |
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| The view from the bridge | |
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| We have to start from where we are | |
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| Are banks 'unpopular'? | |
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| The path to popular popularity | |
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| And get this too . . . | |
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| Change is in the air - confidence, simplicity, speed | |
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| The Basic Model | |
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| Profit and return on equity | |
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| Capital requirements | |
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| Interest spread and interest margin | |
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| Non-interest income (fees and commissions) | |
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| Costs and the cost/income ratio | |
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| Loan losses | |
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| Taxation | |
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| Our loan of #1000 | |
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| Performance measurements | |
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| The different businesses within banking | |
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| Assets, liabilities, treasury, capital markets | |
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| Caveat - definitions | |
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| To really understand it without it hurting | |
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| Some further points | |
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| Accounts, Services and Channels | |
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| Accounts | |
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| Payments | |
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| Services - fee-based and commissions | |
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| Delivery channels | |
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| Bank cooperative channels | |
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| And some other points | |
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| Real Banks and Challenges | |
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| Some lists of banks - international banks | |
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| Globalisation | |
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| UK banks | |
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| A little more detail on some UK banks | |
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| Building societies | |
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| The challenges for banks | |
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| Costs and the cost/income ratio | |
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| Risks | |
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| Differentiators | |
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| Acquaintanceships | |
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| Trends | |
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| Competition | |
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| Pricing | |
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| Roundup | |
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| Key observations | |
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| Systems and Information Technology (IT) | |
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| Legacy systems | |
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| Banks are dependent on data and information processing | |
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| Information technology will become a major differentiator | |
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| IT and the retail banking industry | |
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| There are additional pressures now | |
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| The IT industry is not without blame | |
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| Resolving the legacy systems problem | |
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| A new approach from the IT industry and from banks | |
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| Applications solution/software licensing | |
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| The Propositions | |
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| The Real World | |
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| Basic findings on business strategy | |
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| Investment intensity - a big difference | |
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| The people, processes and technology of capital investment | |
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| Product/service fitness-for-purpose | |
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| Brand, service, fitness-for-purpose, price | |
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| Products and price | |
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| Reinvention and invention | |
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| How big is the opportunity? | |
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| The Propositions | |
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| Customers | |
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| Customers - life events management and lifestyle choices | |
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| The very different starting points of banks | |
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| The strategies | |
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| For established banks | |
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| For new banks | |
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| SWOT summary | |
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| The starting point | |
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| Preparing for the Future | |
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| Evolution, tactics, limits - the obvious stuff | |
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| The critical stuff | |
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| Customers | |
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| Marketing and brand power | |
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| Costs | |
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| Staff | |
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| Deciding on the change itself | |
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| Establishing the basic inputs | |
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| Discovery process | |
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| Establishing the business model | |
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| Establishing the business plan | |
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| Big banks in particular | |
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| Is there really a choice? | |
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| Much of the writing is on the wall | |
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| Predictions for Retail Banking | |
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| A fra | |