Retail banking is currently undergoing a period of unprecedented disruption from a combination of new market entrants (challenger / digital banks and fintechs), demanding tech-savvy customers, regulatory change and the need to focus on cost reduction and efficiency. Additionally, there is a growing customer perception that banks are no longer relevant to their daily lives.

This paper, produced by Finextra Research in association with Diebold Nixdorf, identifies the key challenges of a new future-proof strategy for retail banking and provide practical examples of what banks around the world are doing about them.

The paper is supported with insights and information obtained at DN’s International Management Seminar 2018 (IMS 2018), held in Lisbon on 8th – 10th October and titled ‘Revitalise Retail Banking Agility - Embrace the Larger Ecosystem’ and contains 13 videos and multiple real cases from leading banks including BBVA and BPI.

Drawing on presentations given at Diebold Nixdorf International Management Seminar by a diverse group of top bank executives, the paper explores the following themes:

• The key market trends forcing banks to accelerate their pace of change
• The need to create seamless consumer journeys that transcend a single physical or digital channel
• The agile innovation approaches and new philosophies on operational excellence and service delivery that are driving successful transformation programmes in real-world settings
• How the ultimate prize for a bank is to use regulatory changes such as Open Banking and PSD2 to position itself at the centre of a Connected Commerce ecosystem comprising a variety of partners – assuring the bank’s continued relevance to the key journeys of their customers.

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