FIC Retail Banking Expertise Boosts Bottom Line

Financial Institutions Consulting has broad expertise in retail banking. Our expertise can help boost your retail bank's bottom line.

FIC Understands the Retail Banking Culture

The typical retail bank culture is much more sales oriented than the typical corporate bank culture.

A good retail banking organization will try multiple approaches to encourage product sales and use. A bank employs signage, has staff proactively approaching customers, may have a video playing in the branch describing a new product or service, and uses direct marketing channels to surround the customer with purchasing options. Successful retail banks regularly reach out to customers, and the best follow an approach that is more like Wal-Mart than a traditional bank.

FIC can help your bank meet today's sales challenges in retail banking.

FIC Advises Retail Banks About Products and Services

Retail Banking Can Provide Reliable Rewards

"Go back to your retail roots" is our advice for sustainable and predictable growth.

Well-run banks with a corporate emphasis will always experience earnings volatility; well-run retail-oriented banks perform well year in and year out.

Community banks have known this for decades. Many generate top-tier returns by developing close ties to their community and serving the consumers and small businesses in their area. These institutions know who they are and who their likely customer set is, and they stick to their knitting.

Similarly, managers at the best big banking companies have realized that retail is the direction to focus on. Factors such as improved earnings predictability, reduced volatility in credit quality, and the opportunity for extensive cross-selling point these companies toward retail. FIC points its clients towards retail success.

Success in Retail Banking Requires FIC Tactics

Success in retail requires roll-up-the-sleeves tactical excellence. Building a great retail bank demands significant financial commitment, creativity, and a strong ability to implement.

We know it is a grind-it-out process, as opposed to the splash of a huge loan signing or a big investment banking deal. It is tough to pull off and demands emphasis on the nitty-gritty details that FIC is familiar with.

FIC can provide your bank with the tactical excellence needed for retail success.

FIC Helps Banks Target Profitable Customers

Banks should aim a major part of their cross-sell effort at the small business owner and, possibly, the business's employees. FIC's analysis indicates that owners generate more than $60 billion of retail banking revenue. But close to 40% of business owners keep their personal account at a different bank than their business account. Employees (particularly from service firms) can also be an additional source of substantial revenue.

Bank management needs to leverage the branch and retail management to make these sales. FIC can help show bank management how.

Contact us for more information about FIC's retail banking expertise. And how it can boost your bottom line.