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시장보고서

Achieving Sustainable Cost-Savings in a Low-Margin Environment

리서치사 Datamonitor
발행일 2009년 04월 상품코드 87200
페이지 정보 23 pages
가격
US $ 2,795 ￦ 3,330,200 PDF by E-mail (Single User License)
US $ 6,988 ￦ 8,326,200 PDF by E-mail (Global Site License)


영문목차

Abstract

Introduction

Financial institutions struggling to survive the spiraling effects of the credit crunch need to look at rationalizing their costs in order to remain profitable in such a low-margin environment.

Scope of this research

  • The past actions of many retail banks have come back to haunt them and banks must revisit their business models to improve cost efficiency.
  • Cost management should be targeted to where it will really make a difference.
  • Sustainable cost-savings must be the goal of a retail bank cost management program.
  • There are opportunities for banks to bring employees and customers closer and achieve cost-savings.

Research and analysis highlights

Highlights how banks can revisit their business models to improve cost efficiency, emphasizing the need for an all encompassing cost-saving strategy.

Outlines specific strategy for identifying where cost savings can really make a difference in order that retail banks achieve sustainable cost-savings.

Identifies examples of programs being employed by banks in order to bring customers closer while at the same time saving costs.

Key reasons to purchase this research

  • Identify key areas where costs can be saved while still promoting a customer-centric banking model.
  • Highlights cost-savings measures that bring employees closer to the company and that are sustainable in the long-term.

Table of Contents

DATAMONITOR VIEW

  • CATALYST
  • SUMMARY

ANALYSIS

  • The past actions of many retail banks have come back to haunt them
    • Banks' behavior has drawn a huge amount of criticism
    • Changing the minds of a cynical public will require prudency and a significant campaign of goodwill
  • Banks need to revisit their business models to improve cost efficiency
    • The cost efficiency of all the major UK banks, except Abbey, deteriorated between 2007 and 2008
  • Crisis brings the opportunity for clear strategic gains
    • A cost-saving strategy needs to be board-driven and all encompassing
  • Cost management should be targeted to where it will really make a difference
    • Cost-savings efforts should be channeled appropriately so that they prove to be sustainable
  • Sustainable cost-savings must be the goal of a retail bank cost management program
    • Staff should be involved in cost-cutting measures
    • Significant cost-savings from process re-engineering are diminishing
    • Combine green initiatives with cost-savings to improve company profile and raise staff awareness
    • Outsourcing can be an important way to save on operational costs but it can be a sensitive issue
    • Emphasizing outsourcing can detract from the need for better customer focus
  • There are opportunities for banks to bring the customer closer and achieve cost-savings
    • Banks should utilize available technology to achieve cost-savings and stay in regular contact with their customers
    • Banks can utilize technology to ' go green' , save on costs and build a credible corporate image
    • Banks can reduce costs by rationalizing the portfolio of products and services offered
  • A new model of retail banking has less branch staff but greater diversity in the range of work they are able to do
    • Banks need to optimize their utilization of staff and refine service levels

APPENDIX

  • Tables
  • Bibliography
  • Further reading
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer

TABLES

  • Table: Lloyds TSB greenhouse gas emissions
  • Table: HSBC' s virtual forest saves the bank money and appeals to green customer sensibilities
  • Table: Cost/income ratios of major UK banks, 2007 - 08
  • Table: Total advertising expenditure by UK banks, 2008
  • Table: Number of customers per retail branch, 2008
  • Table: The number of retail branches and customers by bank

FIGURES

  • Figure: Most UK banks witnessed rising cost/income ratios between 2007 and 2008
  • Figure: Total advertising expenditure by banks and advertising expenditure per customer, 2008
  • Figure: Citi uses texts to connect with customers based on their individually-defined criteria
  • Figure: BNZ offers tailored packages to its customers from a limited range of products
  • Figure: There is a wide range of customers per retail branch in UK banks, 2008
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