Euromoney Hong Kong School of Retail Banking

Course Overview Retail banking has changed significantly over the last few years, partly as a result of the impacts of the global financial crisis but also because of the rapid growth in alternative channels of distribution emanating from the digital era. Technology impacts on the daily lives of people – whether they are dealing with a bank or a retail outlet. Growth in the use of non-branch channels negatively impacts branch profitability. These changes are creating significant challenges and placing pressures on banks to balance revenue growth alongside cost management. Deciding which technologies to deploy to gain maximum benefit is challenging. Many banks fail to please their customers, grow their revenue, reduce costs and drive shareholder value – this 5 day School will share what the leaders in this industry are doing and how your banks can adapt to enjoy similar success. The School will draw upon experience from retail banks around the globe, tailored towards your markets as well as sharing best practice from non-bank sectors where learning can be applied. This programme is about practical learning and examples, not theory. It will help attendees take away actionable ideas, innovations and plans. Key Learning Enhance your bank's growth and revenue opportunities, product development ideas, marketing and customer requirements Develop, design and understand marketing and distribution strategies Maximise sales and improve performance across all distribution channels Enhance cost efficiency and productivity by creating an environment where your customers want to buy more of your products and services Understand non-branch distribution including mobile finance Understand the impacts of new channels such as social media Learn how to gain competitive advantage in your market place Learn first-hand retail banking operations in Hong Kong Methodology As with all Euromoney Training courses, this programme makes use of case studies and exercises to ensure that you leave the course, ready to apply your new knowledge. Who Should Attend A "must" for Retail Banking staff working in the following areas: Distribution managers Sales managers Strategic planning personnel Branch managers Heads of retail banks Regional managers General managers Heads of business units Senior HR and training professionals Operations directors Marketing managers
Day 1 The challenges/market insights and trends Course content review Latest trends in retail banking Learning from people, premises, product and promotion perspectives to gain insight into what the market leaders are achieving Analysis of key trend changes in: Technology Institutional changes Demographics Environment Ethics and social values The session will share key recent retail banking research findings Priorities Current priorities for banks as well as what the leaders see as priorities in international markets What change means for customers, costs, profits, revenues, marketing, staff and shareholders – What is the impact on distribution balance requirements for the future? Methods of delivering excellence in customer experience across traditional as well as the emerging digital channels Discussion on what the market leaders are doing to achieve “excellence”. Learning from non banks How do they deal with the growing multiplicity of channels and product offerings? What can banks learn from them? Multichannel – Achieving for both customer benefit and increased performance Sharing of learning from successful multichannel operators Barriers to increased business What are “barriers to business”? Understanding how banks can improve performance through their removal Why do barriers exist in the first place and how do you remove them? A review amongst attendees of the barriers existing in existing business models impacting on their performance The bottom line impact of business barriers Structures to put in place to ensure obstacles don’t reappear Integration of the digital world with existing physical outlets Day 2 Revenue growth Understanding “the revenue wall” Where are tomorrow’s major revenue opportunities? How is your institution performing? How do the leaders maximise income? Where to place your focus and money for maximum return Managing change and innovation The role of innovation – Examples of how it can add to revenue growth Product innovation and development Examples of retail banks that deliver over 25% higher revenues from their approach Distribution In depth analysis of the rapidly changing world of bank distribution Branches – What role should they play? Distribution How can you make branches more profitable? Can partnerships work? What balance is necessary between branches and non-branch channels? Digital – What does it mean for costs and performance? The role of segmentation in delivering profitability Matching customer to channels – Getting the balance right Can branch design influence the bottom line performance? Role of social media in the marketing mix – Are there examples of successful models to follow? What is the future? – Mobile banking, internet, branches? How do you choose? Channel choices – Trends and what customers respond to Branches in the community – Missed opportunities? What does branchless banking mean? Targeting through a multi-channel world Digital distribution – How far reaching is the impact for bank and customers? Remote banking, mobile banking – How to make it work for the bank and the customers Management structures Cost reduction vs. Investment Cross sales Retention/loyalty – How to build links of value with customers Understanding the customer journey – Using that knowledge to outperform the competition Shared learning from banks around the globe that have undertaken distribution changes recently Day 3 Customer experience The value of investing in service Is “experience” a key differentiator? How should you measure its profitability? Why do banks fail to deliver the experience customers require? Who are the leaders and why? What can been learned from the nonbank sectors – Practical examples What can your institution do to become a leader? What are the elements required for success? Reward systems Empowerment – Examples of leaders who deliver excellence How can your institution deliver increased loyalty at lower costs? Shared learning from the leaders in both banks and non-banks People Power of people in the delivery of results – Centralisation vs. Decentralisation – Real life examples of what works Power of the front line – How you can maximise results Building powerful relationships that make customers want to buy more products Recruitment, training and development Empowerment – Alternative options discussed What can be learnt from non-banks? How to place the right people in the right jobs – Role fit survey approach This session will share practical examples of the winners in managing people Day 4 Walking workshop Creating an empowered environment for high sales results. The tour provides a unique opportunity to visit both retail and retail financial services organisations in central Hong Kong. The guided tour will benchmark financial services against the very best of high street retailing. It is anticipated that at least six locations will be available for the attendees to view and will include amongst others: Apple Store Nespresso HSBC Bank of East Asia Bank of China DBS Store tour review Learning and action points from the visits Summary of possible actions How they can be adapted and amended to match your world Day 5 Productivity Ways of effectively managing costs Measurement schemes that work Improving recruitment and training for significant increased contributions Role of leadership at all levels – How it can transform the bottom line Maximising regulatory and compliance requirements for improved performance Learning from the leaders in banks and non-banks for increased performance Marketing/Products and communications Using customer insights to be one step ahead of the competition Understanding how customers buy from you How can you influence their behaviour Identifying and removing barriers to purchase Central vs. Local marketing Product development – What can you learn from the best? Product innovation – Global update Loyalty programmes – Do they work? How to develop high levels of retention and advocacy Innovations in communications Co-branding – A good idea? Impact of social media The future for marketers? Innovation Innovation in retail banking is focused on distribution channels, customer service, and products Key innovation drivers are new customer acquisition rather than cost and compliance Innovation weakest in process – Why? Where is innovation delivering best results? Examples of global innovation initiatives What makes innovation successful? Ensuring innovation is on the agenda Summary Pulling the learning together for success when returning to the work place Alternatives for implementing action plans Individual priorities and actions Case studies over the entire School include: Santander, Handelsbanken, Barclays, HSBC, ING, Metro Bank, Garanti, Commonwealth, Wells Fargo, Wal-Mart, Disney Corporation, Ritz Carlton, Tesco and many others.