New Strategies for Financial Services Firms:

Book

Contents

Introduction 1
University of Augsburg, Deutsche Bundesbank, Deutsche Bank AG
Definitions 9
Customer Relationship Management, virtual organization, eCRM
Mega Trends in the Financial Services Industry 16
reservation price, search market, Population Pyramid
Strategic Options 54
European Central Bank, HypoVereinsbank, life-cycle solution
The Importance of Trust 157
switching costs, home banking, Liberty Alliance Project
Summary and Outlook 175
Customer Lifetime Value, Secured socket layer, Hypertext transfer protocol

more »
List of Figures 181
Number, Home Banking, Germany

By Dennis Kundisch
Published 2003
Springer

Financial services
industry/ Germany

206 pages

The German financial services market is in deep crisis. Deregulation and the new means of communication have fostered competition and made the market a transparent level playing field. Moreover, customers increasingly demand individualized solutions to their financial problems. Many financial services providers reacted by merging to realize scale effects and adapted "me-too-strategies" that will not provide for a competitive advantage.

In this book, the life-cycle-solution approach is presented. This anti-cyclical strategy puts the customer and his life-cycle in the center of interest, in order to service him according to his latent needs - wherever it is economically sound to do so. However, this book does not stop at the strategic level, but presents two concepts that help to better utilize customer relationships. Using IT as an enabler, the quality of financial advice can be improved and at the same time cost can be lowered due to streamlined consultation processes.