VRL Financial News

Hosted by Hugh Fasken, Editor, Retail Banker International
19 March 2009

The events of the past 12 months have seen the need for innovative banking strategies to enable retail banks to derive profits more effectively. To achieve this, banks must take a closer look at all their distribution channels and touch points with their customers, including telephone, direct, and branch banking, and potentially, mobile banking. Across the world, from highly developed markets such as the US to emerging superpowers like India, direct banking has started to shake up the consumer financial services industry, offering strong customer reach and interactivity coupled with significantly lower distribution and sales costs. But how do you make money from direct banking? And where does it fit in banks' product channel proposition for their customers?

Retail Banker International's roundtable discussed today's cost-conscious multi-channel banking environment, and will answer questions such as: What are the biggest issues facing banks in the current climate? Does direct banking hold the answers to cost control? Should banks use charging structures to migrate people to low cost channels? Can mobile banking play a role in the UK to the same extent it has around the world?

Attendees:

• Christo Very - Managing Executive: Digital Channels - ABSA
• Phil Sowter - Head of Mobile and Self Service (UK) - Barclays
• Matthew Timms, Director of e-commerce, Abbey
• Edwin van Raalte MBA - Senior Manager Business Development, International Direct Banking - Rabobank
• Nick Staib, Senior Manager Digital Security/Digital Solutions, HSBC/First Direct
• Simon Geach, Consumer Sales Director, Kasperskey Lab
• Dominic Storey, Technical Director, Sourcefire
• Steve Blizzard, Director, KPMG
• Richard Martin, Business Security Consultant, APACS
• Richard Hall, Managing Director, Halogram
• Hugh Fasken - Editor/Group Editor - Retail Banker International/VRL
• Douglas Blakey - Deputy Editor - Retail Banker International/VR