The always thorough NetBanker comes out with their annual planning guide, this for 2008. I have been following NetBanker since 1996 and its well worth the subscription for those involved in Bank strategy, and Online Banking development. This teaser from the document ought to get you going. You need the full report to get the complete context.
So, does the inevitable [eventual] demise of the branch matter for your business planning in 2008?
That’s hard to say. But, look at the answers to the question posed byCashEdge last month to a group of online banking customers. Three quarters said they would prefer to do all their banking outside the branch (see p. 9). That’s why we have projected a [ refer the report] % decline in the number of U.S. bank branches during the next two decades (see OBR 128).
Abstract: Our thirteenth annual Planning Guide is packed with more than 1000 brainstorm-inducing ideas, tactics, and tips you can use to improve the effectiveness and profitability of your online initiatives. The information is organized by product within the two major retail banking segments: consumers and small/microbusinesses. With fee revenue, or lack thereof, one of the most important online banking issues, the 2008 Planning Guide also includes a handy 12-page section on pricing online services and transactions. Suggested fees for both consumers and businesses are presented for every online financial function imaginable.
Companies mentioned: Mint, Mortgagebot, Prosper and hundreds of others
There is a particularly practical section on building internal knowledge about the real non Bank competition out there, and the activity they are seeing, including Mint, Mvelopes, Wesabe, with a view towards developing the ‘Big idea’.
Other high value parts of the report:
- online banking best practices (just a ton of detail, retail and commercial, and lots of basic stuff, as well as some more future oriented)
- interesting section on fee opportunities (again tons of detail)
- messaging (a novel and highly relevant section, again in detail; note its not about email)
Technorati Tags: OBR, Online+Banking+Report, 2008+Planning+Guide
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