Retail and Commercial Banking Delivery Channel Masterclass Training Course

What is Retail and Commercial Banking?

• Preparing a definition covering:
  • Premises
  • Products
  • Customers
  • Staff
• Discussing how Retail and Commercial Banking also includes aspects of retail activity: taking ideas from shops, supermarkets etc.
• Discussing how Retail and Commercial Banking Strategy Management applies across all delivery channels

• Understanding the logical process for creating a Strategy:
  • What we want to do; when we want to do it; and how we want to do it
• What information do we need to gather on the “As Is” – the current position:
  • What is the bank’s existing Strategy (if any)?
  • How do we know how successful this existing Strategy is?
  • How can we identify the gaps – where is the shortfall in performance
• What information should be gathered on the “To Be” – the preferred position in the future:
  • What might the constraints be – the limiting factors – to achieving success:
• How is a Business Case prepared which helps justify the emerging Strategy to the company’s Senior Management? This will focus on:
  • Budgets
  • Critical Success Factors (CSFs)
  • Measurement
  • Continuous Management and Assessment

• How do customers access our products and services?
• How do customers want to access our products and services?
• Are we flexible in meeting customers’ access needs?
• What does the future look like for delivery channels?
• The challenge created by the emerging involvement of Telecoms companies and Mobile Money and the radical change this may make (in fact, is already making in certain parts of the world) to the execution of retail payments

• Location of the branch
  • Physical location
  • Size
  • Competition
  • Customer traffic
  • Other factors such as availability of public transport and of car-parking
• Design of the branch:
  • What should be included – what can be excluded?
  • What factors will entice customers in – what will turn customers away?
  • How should we move customers around inside the branch? What is customer traffic management?
  • How can we display our goods in the outlet – our products – in the most advantageous way

• What other Delivery Channels do our customers expect us to offer to them
• What are the strategic issues around providing this access to all our customers?
• What will happen if we choose not to make one (or more) of these channels available to our customers?

• What are the factors in creating a product portfolio?
  • Understanding all the costs related to a product:
    • Production costs – including the effect on the bank’s balance sheet
    • Marketing costs – getting the product to the customers
    • Selling costs – persuading the customer to buy the product
    • Maintenance costs – after-sales service
    • Enhancement costs – making an existing product even better
  • Understanding the profit element linked to each product. How to know:
    • Which products make the most money – and should be retained
    • Which products make the least money – or make a loss – and should be deleted from the portfolio
• What are the factors in defining a target market for each of our products – and then linking that to the Premises decisions on location and design?
• Marketing – How do we tell our customers what we sell? Creating a Marketing Plan including factors such as:
  • Our product portfolio – differentiating between target markets
  • Branding – making our bank identifiable in a consistent way
  • Advertising – using all available (or required) advertising media such as:
    • TV, Radio and Cinema
    • Newspapers, Magazines and Flyers
    • Billboards, Posters and Direct Marketing
  • Merchandising – linking all the advertising and product literature consistently

• Creating and Integrating Campaigns
  • Ensuring that each Campaign complements activity – and doesn’t compete with it
  • Creating and publishing (internally) an integrated Campaign Plan
  • Developing a process whereby departments use their Business Cases to “bid” for space and time to attract customers’ attention
  • Building the Campaign for maximum effect using the media outlined previously
• Merchandising:
  • Again building on the learning to ensure:
    • Consistency – of message
    • Conformity – to company standards for literature and language
    • Uniformity – helping customers to navigate our literature
    • Legality – ensuring no contraventions of any “customer protection” legislation

• Who are our customers – and what do they expect from us?
• Different types of customers – and their separate requirements:
  • Mass Retail – want fast, efficient and error-free access to products and services
  • Mass Affluent – in addition to fast efficient and error-free access to products and services want a more-personal service: a feeling that they are “special”
  • Small / Medium-sized Enterprises (SMEs) – a more-personal service feeling that their non-personal business is important to the bank
• How do we differentiate between the different types of customers? Actually… Should we differentiate between different types of customer or should we treat them all the same…?
• Defining the experiences we want our customers to enjoy when they contact us
• How do we deliver these different experiences?
• What differences in staff and staff training are required?

• The importance of Customer Relationships
• The benefits of developing a Customer Relationship Management Strategy
• A Customer Relationship Management framework
• Integrating People, Processes and Technology
• The Service : Profit Chain
• Obtaining and Handling Customer Information

• Stakeholder (Customer) Management
• Stakeholder Engagement
• Satisfying Stakeholders’ Demands

• Creating and delivering an excellent Customer Experience
• Understanding Ourselves and Others
• Effective Communication
• Motivation at Work
  • How do I get the very best from each customer interaction?
  • What do I need to do differently to ensure that my customers only want to deal with me?
• Team Building
  • The stages of Team Building
  • The inevitable effects on performance levels through these stages
• Coaching
  • Ensure clarity on what exactly Coaching is and how it is used
  • Link “Coaching” as a discipline to improving individual and team performance (or analysing and rectifying under-performance)
  • Understand how learning shared can easily be transferred into a “commitment to action”
• Coaching
  • Introduction to the GROW model
  • Consideration of all the factors required in effective Coaching
  • Introducing the House of Change: understanding the need sometimes to make things worse before they can get better
• Building Rapport
• Handling Conflict
  • What causes conflict?
  • The Phases of Conflict Handling
  • Thomas-Kilmann’s Five Conflict-Handling Modes – and how to apply them
  • Bridging the Gap

• Understanding the product(s)
• Spotting a customer’s buying signals
• Upselling Skills: what else do my customers need…?
• Negotiating
• When is not selling anything at all the best thing to do?

• Creating Goals and Objectives
• Managing Under-Performance
• Performance Discrepancies
• Managing Performance Standards
• Feedback as a tool of Performance Management

• What is a “Way of Working”? What does it include?
• How do we measure Staff Performance?
  • Goal and Objective Setting
  • Managing against those Goals and Objectives
  • Staff Development and Performance Management
• Motivation: how do we get the best from our staff?
• Delegation: how can we give our staff the chance to develop their own initiative to deal with customers
• How do we ensure that our staff always deliver the best possible Customer Service?
• How are the behaviours of our managers – the way they treat their staff – key in the development of our staff and their relationship with our customers?

• Understanding “Change” as a concept
• The 9 Change Principles – and putting them into practice
• Embedding the change
• The emotional responses to change: how do staff receive, understand and implement the required change

• Who are our International Customers?
• Do we (should we?) treat them differently from our domestic customers?
• Extra issues of Know Your Customer (KYC), Identification & Verification (ID&V) and the international aspects of Financial Crime legislation
• International aspects of:
  • Customer Service
  • Overseas Premises
  • Product Development
  • Money Transmission
  • Foreign Exchange
  • …and Import / Export for SMEs