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The Agile Bank: Transforming the customer experience

WHAT IS THE AGILE BANK?

The agile bank can grow market share and reduce operational costs in exciting new ways. Discover a new retail banking distribution and marketing model for the digital era—an environment where customers have more control than ever.


5

Characteristics
of agile distribution

5 Characteristics of agile distribution
Customer

Customer first

Offering customers “what they need,” not “what the bank has,” hyper-personalized products and services.

Revenue ready

Revenue ready

Transforming fixed costs into variable costs and investing savings in revenue generation opportunities.

Fast twitch

Fast twitch

Flexing distribution, making channel decisions quickly and often.

Test, learn, tweak

Test, learn, tweak

Replacing complex distribution processes, continually adjusting offerings as the market dictates.

Right channeling

Right channeling

Combining digital and physical channels to grow market share without traditional branches.

THE FOUNDATION FOR CHANGE

 
 

3

Elements to Help
Make the Transition

Retail banks are in an excellent position to make the transition to agile distribution and marketing because they already have the three elements to do so.

 

Digital and Physical

Digital and Physical

Unlike digital-only competitors, traditional banks combine the digital and physical.

Analytics Insight

With the right customer data, banks can create and test real-world scenarios to define markets, product format and customer micro-clusters.

Analytics Insight
Innovation Jumpstart

Innovation Jumpstart

Evolve banks by purchasing start-ups or white-label capabilities to integrate into the value chain.

 
 

THE BUILDING BLOCKS

 
 
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3

Building blocks
lay the groundwork

Banks cannot become agile overnight—the model is a radical departure from how banks have historically operated. However, laying the groundwork for change begins with these key building blocks.

3 building blocks lay the groundwork

Agile banks must understand customers deeply and infuse a disciplined, customer-first perspective into everything they do.

Agile banks must collaborate on a whole new level, changing why they collaborate, with whom they collaborate, and how they collaborate.

Agile banks can anticipate and react to market demand at speed because they develop empowered execution and innovation teams with a bias for action.

 
 
 

THE ROADMAP

 
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4

Steps Necessary to
Start the Journey

Every bank moves through the same four foundational steps to develop agile distribution and marketing in the digital banking landscape.

Confirm the Bank’s DNA

Confirm the Bank’s DNA

Banks should assess whether they should evolve into an agile-specialized bank, or an agile-efficient bank.

Diagnose the Network

Diagnose the Network

Banks must rethink their physical distribution network by streamlining branches.

 
Walk in Customers’ Shoes

Walk in Customers’ Shoes

Banks must start from the agile customer experience and work backward to assess technology needs and build a new agile marketing tool kit.

Test the Sweet Spots

Test the Sweet Spots

Banks must continually design new strategies to push sales and service effectiveness to the next level.

 
 

DOWNLOAD INFOGRAPHIC

 
 

AGILE THINKING

To learn more, read our series and explore how this breakthrough distribution model will change the future of banking.

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