Banking Assignment代写范例：Developments in the Retail Banking Sector

Banking Assignment代写范例-零售银行业的发展。本文是一篇留学生银行学Assignment写作范文，主要内容是讲述强大的力量正在改变零售银行业。这些变化是由于几个不同的因素造成的，例如客户期望的变化、技术能力的变化、更严格的监管要求以及非传统参与者施加的激烈竞争。在此之前，该行业的变化相当缓慢，更多的是沿着进化的道路发展。为了取得成功，银行需要做好准备，以确保它们正在转变为一个盈利、灵活、以客户为中心、符合监管要求的创新机构。Banking Assignment范文将讨论零售银行业当前的竞争格局。请参考。

Introduction 引言
It is undeniable that strong forces are changing the retail banking industry. These changes are due to several different elements such as shifting customers’ expectations, changing technological capabilities, stronger regulatory requirements and fierce competition imposed by non-traditional players. Previously, the industry was rather slow to change, followed more of an evolutionary path. In order to be successful, banks need to prepare themselves to ensure that they are transforming into an innovative institution that is profitable, agile, customer focused and regulatory compliant. The next section will discuss the current competitive landscape of the retail banking industry.
2.The current competitive landscape of the retail banking sector 零售银行业当前的竞争格局
Banks are special institutions due to the imperative position they hold in an economy and the huge impact failure of this sector may have on society. However, banks are inherently unstable due to their structural fragility. The low ratios of cash reserves to assets means that most of banks assets are illiquid in comparison to their liability. Banks are also highly leveraged meaning they have few fixed assets and have high levels of debt relative to their equity. Banks are heavily interconnected as borrowers and lenders in the interbank network. The next section will analyse the challenges that are currently facing the retail banking sector.
银行是特殊机构，因为它们在一个经济体中的重要地位，以及这个部门的失败可能对社会产生的巨大影响。然而，由于银行的结构脆弱性，它们本质上是不稳定的。现金储备与资产的比率较低意味着，与负债相比，大多数银行资产都是非流动资产。银行的杠杆率也很高，这意味着它们的固定资产很少，相对于股本而言，债务水平也很高。在银行间网络中，银行作为借款人和贷款人紧密相连。下一节将分析零售银行业目前面临的挑战。
2.1  Challenges facing the retail banking sector 零售银行业面临的挑战
Retail banks are highly complex institutions due to their legacy products, systems and operations. Banks became segmented and complex institutions with different layers of management, departments, products, IT systems and distributional channels. Furthermore, retails banks might also serve multiple markets with different regulations and that further complicates their overall structure and operation and adds to the challenges that they are currently facing.
零售银行由于其遗留产品、系统和运营而成为高度复杂的机构。银行成为具有不同管理层、部门、产品、IT系统和分销渠道的细分和复杂机构。此外，零售银行还可能为具有不同监管规定的多个市场提供服务，这将使其整体结构和运营更加复杂，并增加其目前面临的挑战。
The challenges facing the retail banking industry can be divided into five main categories, they are (i) customers, (ii) banks’ internal structures and business models, (iii) product simplification and innovation, (iv) competition posed by non-traditional players and (v) regulation. All these challenges are interconnected, and they can pose a significant threat on the future success of retail banks.
零售银行业面临的挑战可分为五大类，它们是（i）客户，（ii）银行的内部结构和业务模式，（iii）产品简化和创新，（iv）非传统参与者构成的竞争和（v）监管。所有这些挑战都是相互关联的，它们可能对零售银行未来的成功构成重大威胁。       
2.1.1 Customers 客户
Currently, the retail banking industry is facing two challenges in terms of their customers. Firstly, attracting new customers for growth and secondly, banks need to adapt to the changing customers’ expectations that are taking place on the market. These two challenges will be discussed in detail below.
目前，零售银行业在客户方面面临两个挑战。首先，吸引新客户以实现增长，其次，银行需要适应市场上不断变化的客户期望。下面将详细讨论这两个挑战。
2.1.1.1 Attracting new customers 吸引新客户
Banks need to grow therefore attracting new customers is a crucial element for their long-term success. In order to attract new customers, banks need to develop genuine customer centricity (McKinsey, 2016); (PWC, 2017); (Deloitte, 2018); This means that banks need to develop a complete understanding of their customers and their needs. They need to leave their old sales and product-oriented mindset behind and focus on enhancing customer experience. First-class customer service will lead to customer loyalty and income growth. Banks are still in the old-fashioned view, that by sending customers multiple product offers something will eventually appeal to their customers out of the bundle. Customers’ expectations are changing, the industry must realise this trend and seize the opportunities to grow and build outstanding customer service that will attract new customers and enhance customer experience to their current clientele.
银行需要发展，因此吸引新客户是其长期成功的关键因素。为了吸引新客户，银行需要发展真正的以客户为中心；这意味着银行需要全面了解客户及其需求。他们需要抛弃旧的销售和产品导向思维，专注于提升客户体验。一流的客户服务将带来客户忠诚度和收入增长。银行仍持传统观点，即通过向客户发送多种产品，最终会从捆绑产品中吸引客户。客户的期望正在发生变化，行业必须意识到这一趋势，抓住机遇，发展和建立优秀的客户服务，以吸引新客户，并提高现有客户的客户体验。
2.1.1.2  Changing customers’ expectation 改变顾客期望
It is evident that shifting customers’ behaviors are redefining banks’ structures and operational models. To address those changes, banks are required to make significant investments into their strategy, technology, operation while placing the customer at the center of their operation. However, it appears that banks do not fully understand and know their customers’ wants and needs. Due to the complex internal structure of banks, risk and credit decisions are taken at the product level and not at the customer level, which leaves initiating and implementing changes more difficult.
很明显，客户行为的转变正在重新定义银行的结构和运营模式。为了应对这些变化，银行需要对其战略、技术和运营进行重大投资，同时将客户置于其运营的中心。然而，银行似乎并不完全了解和了解客户的需求。由于银行内部结构复杂，风险和信贷决策是在产品层面而不是在客户层面做出的，这使得启动和实施变更更加困难。
When looking at the changing customers’ preferences, there are four key aspects driving this shift. Firstly, customers are now expecting more. Customers are looking for personalised, relevant, location-based offers from their banks in a timely manner. Therefore, banks need to engage customers and provide them with interactive applications to enhance user-experience. In order to understand customers, banks will need to obtain and analyse multiple sources of internal and external data. This will allow banks to provide the relevant solution to their customers in a timely manner. To do that, banks will need to redesign their core processes from their customer point of view, starting with a simplified product set. A viable option for banks is to create a multichannel strategy that balances cost and services while focusing on the customer (PWC (a), 2017).
在观察客户偏好的变化时，有四个关键方面推动了这一转变。首先，客户现在期望更多。客户正在寻找他们的银行及时提供的个性化、相关、基于位置的服务。因此，银行需要吸引客户并为他们提供交互式应用程序，以增强用户体验。为了了解客户，银行需要获取和分析多种内部和外部数据来源。这将使银行能够及时向客户提供相关解决方案。为此，银行需要从客户的角度重新设计其核心流程，从简化的产品集开始。银行的一个可行选择是创建一个多渠道战略，平衡成本和服务，同时关注客户。
Secondly, the rapid growth of social media and mobility enabled customers to turn to their peers for information and recommendations as opposed to a financial expert in banks. While customers feel that they can trust their banks to do the basics such as keep their money safe, they have lower level of trust when it comes to strategic goals such as receiving unbiased advice (Maechler et al, 2018).
其次，社交媒体和流动性的快速增长使客户能够向同行寻求信息和建议，而不是银行的金融专家。虽然客户觉得他们可以信任银行做一些基本的事情，比如保证资金安全，但在战略目标方面，比如接受公正的建议时，他们的信任度较低。
Thirdly, customers are now better informed due to the easy access to research and data available online. Consumers have more financial options available online now, for instance, they can compare and purchase alternative financial products and services easier and faster (PWC, 2017).
第三，由于可以方便地访问在线研究和数据，客户现在更了解情况。消费者现在有更多的在线金融选择，例如，他们可以更容易、更快地比较和购买替代金融产品和服务。
Fourthly, the rise of social media platforms enables to raise a single consumer voice online. Banks should address negative customer experiences and deal with them promptly by investigating the cause of the problem to ensure that it will not happen again in the future. A strong online presence should help to control customer communication and reputation and to reinforce a positive brand image (Accenture, 2017); (PWC (a), 2017). Therefore, banks should invest in an effective multichannel strategy that serves their customer. In order to provide superior experience to their customers, banks need to reconsider their internal structure and operational model; this will be discussed in the next section.
第四，社交媒体平台的兴起能够在网上发出单一的消费者声音。银行应解决负面客户体验，并通过调查问题的原因及时处理，以确保将来不会再次发生此类问题。强大的在线影响力应有助于控制客户沟通和声誉，增强积极的品牌形象。因此，银行应投资于有效的多渠道战略，为客户服务。为了向客户提供卓越的体验，银行需要重新考虑其内部结构和运营模式；这将在下一节讨论。
2.1.2  Internal structure and operational model 内部结构和运营模式
Banks are highly complex institutions due to their operational model and products offerings. This created silos in banks, where each department manage their own cost, risk etc. Departmentalization entails different layers of management, products, distribution channels, IT requirements. Most of the retail banks can also be found on different foreign markets with diverse regulations and customer which is further complicating their operational model. Therefore, banks need to re-organise their internal operational structure, to introduce a holistic approach to their operation (Deloitte, 2018); (PWC, 2017); (McKinsey, 2016).
由于银行的运营模式和产品种类，它们是高度复杂的机构。这在银行中形成了筒仓，每个部门管理自己的成本、风险等。部门化需要不同的管理层、产品、分销渠道和IT要求。大多数零售银行也可以在不同的外国市场找到，具有不同的法规和客户，这使其运营模式更加复杂。因此，银行需要重新组织内部运营结构，为其运营引入整体方法。
Lean business management techniques such as defining customer’s value, which ties back to the point that was discussed above about the importance of banks knowing their customers and serving their needs accordingly, can assist banks to achieve success on the market. A leaner approach to operation can enable the bank to produce new products faster than the competitors and to obtain complete customer understanding through data analytics (McKinsey, 2016).
精益业务管理技术，例如定义客户价值，这与上文讨论的银行了解客户并相应满足其需求的重要性有关，可以帮助银行在市场上取得成功。更精简的运营方法可以使银行比竞争对手更快地生产新产品，并通过数据分析获得客户的全面了解。
An effective multichannel strategy has the potential to increase customer satisfaction, to simplify internal processes and to increase revenue. A multichannel strategy is about increasing the number of channels for customers to interact with their retail bank in a consistent manner throughout all channels. However, multichannel strategy is considered a technological issue due to its nature of different integrated databases as opposed to a successful revenue generator. Due to banks’ internal structures, their multichannel distributions are still operating in silos, therefore, they are unable to offer seamless customer journey experience. To successfully execute multichannel strategy, banks need to understand their customers’ preferences and, as it was discussed above, banks are falling short on this capability. If banks can understand and anticipate their customers’ preferences through data analytics, they can explore value proposition for the different channels and for the different customer segments. Therefore, in order to be successful in the future, banks will need to move from branches to multichannel distributions such as self-services, in-store branches, labs to support their desired customer experience. An optimised distribution network supports the customers’ needs and minimises the cost of delivery (Gogus, 2011); (PWC (a) 2017). This will be discussed in the next section.
有效的多渠道战略有可能提高客户满意度、简化内部流程和增加收入。多渠道战略是增加客户与零售银行在所有渠道中以一致的方式互动的渠道数量。然而，多渠道战略被认为是一个技术问题，因为它具有不同的综合数据库的性质，而不是一个成功的创收者。由于银行的内部结构，它们的多渠道分销仍处于孤立状态，因此无法提供无缝的客户旅程体验。为了成功实施多渠道战略，银行需要了解客户的偏好，正如上文所讨论的，银行在这方面能力不足。如果银行能够通过数据分析了解和预测其客户的偏好，他们就可以探索不同渠道和不同客户群体的价值主张。因此，为了在未来取得成功，银行将需要从分行转移到多渠道分销，如自助服务、店内分行、实验室，以支持其所需的客户体验。优化的分销网络支持客户的需求，并将交付成本降至最低。这将在下一节讨论。
2.1.3 Product simplification and innovation 产品简化和创新
Innovation is essential for retail banks’ survival. Retail banks carry many products which involves cost in operation, technology, service and risk and regulatory challenges. Each of their products further adds complexity and cost to the overall operation of the banks. (PWC (a), 2017); (McKinsey, 2016). Innovation can be achieved by streamlining and simplifying current product offerings, in other words, optimising operation.
创新对零售银行的生存至关重要。零售银行有许多产品，涉及运营成本、技术、服务、风险和监管挑战。他们的每种产品都进一步增加了银行整体运营的复杂性和成本。创新可以通过精简和简化当前的产品，换言之，优化运营来实现。
In order to streamline operations, banks need to ensure that they correctly record all data of their customers as this will enable them to provide tailored offerings to their customers. Effective multichannel approach can assist banks to decide which segment or processes to invest into that will bring a considerable return on their investment (Bellens, 2016).
为了简化运营，银行需要确保正确记录客户的所有数据，因为这将使他们能够为客户提供量身定制的服务。有效的多渠道方法可以帮助银行决定投资哪些细分市场或流程，从而为其投资带来可观的回报。
Simpler products and portfolios with transparent pricing are essential for banks to consider. The first step in product simplification is to be transparent and communicate values, what differentiates one bank from another in the competitive arena (McKinsey, 2016). While regulation and technological changes are creating opportunities for bank’s innovations, they are also creating opportunities for non-traditional players on the market. The next section will discuss the competition posed by non-traditional players in the industry.
银行必须考虑更简单的产品和具有透明定价的投资组合。产品简化的第一步是透明并传达价值观，这是在竞争舞台上区分一家银行和另一家银行的关键（麦肯锡，2016）。在监管和技术变革为银行创新创造机会的同时，也为市场上的非传统参与者创造了机会。下一节将讨论行业中非传统参与者构成的竞争。
2.1.4   Competition by non-traditional players 非传统参与者的竞争
In general, there are two types of non-traditional players on the market, they are (i) FinTechs and (ii) Shadow Banks.
一般来说，市场上有两类非传统参与者，即（i）金融科技公司和（ii）影子银行。
2.1.4.1  FinTechs 金融技术
FinTech is a term mixing of the words of “finance” and “technology”. It refers to the industrial changes that are coming from the convergence of financial services and IT (Kim et al, 2015; Neinaber, 2016). FinTech innovations can cover the whole banking value chain or just certain elements of the chain. If FinTechs cover the entire value chain, it can have a significant impact on the banks’ business model. However, most FinTech innovations only cover one element of the value chain to provide a faster and more cost-effective technological solution and this allows them to be competitive. FinTechs competitiveness depends on the retail banks’ ability to fast develop these technological competencies in-house and successfully replicate these innovations in line with market shifts. While there are a number of benefits of FinTechs such as convenience, cheaper deals, more options etc., there are also a number of risk factors associated with their products, for instance, unclear rights (FinTechs may use different business models to traditional retail banks and this can make it challenging for the customer to identify their rights should something go wrong) or technology based risks (personal data may be mis-used and customer could fall victim to cybercrime) (Central Bank of Ireland, 2017; Magyar Nemzeti Bank, 2017).
FinTech是一个混合了“金融”和“技术”两个词的术语。它指的是金融服务和It融合带来的行业变化。FinTech创新可以覆盖整个银行价值链，也可以只覆盖链中的某些元素。如果FinTechs覆盖整个价值链，则会对银行的业务模式产生重大影响。然而，大多数FinTech创新仅涵盖价值链的一个要素，以提供更快、更具成本效益的技术解决方案，这使其具有竞争力。FinTechs的竞争力取决于零售银行在内部快速发展这些技术能力并根据市场变化成功复制这些创新的能力。虽然FinTechs有许多好处，例如方便、便宜的交易、更多的选择等，但也有一些与产品相关的风险因素，例如，权利不明确（FinTechs可能会使用不同于传统零售银行的业务模式，这会使客户在出现问题时难以确定自己的权利）或基于技术的风险（个人数据可能被误用，客户可能成为网络犯罪的受害者）。
2.1.4.2  Shadow Banks 影子银行
Shadow banking is a term that was first used by the economist, Paul McCulley, in a 2007 during his speech at the annual financial symposium. The term shadow bank is used for a collection of non-bank financial intermediaries that provide services similar to commercial banks. However, shadow banks do not have banking licenses, and they do not take deposits. They rely on short term funding provided by asset backed by commercial papers. They can also be sponsored or affiliated to banks through subsidiaries or holding companies. They are typically intermediaries between investors and borrowers and they can offer similar products to banks such as mortgages and facilitate credit arrangements. Examples of well-known shadow banks are the Lehman Brothers or Bear Sterns, both collapsed in 2008 during the Financial Crises. Unlike retail banks, shadow banks cannot borrow from the government in case of emergency and their depositors’ investment funds are not covered by insurance (Kodres, 2013).
影子银行是经济学家保罗·麦卡利（Paul McCulley）在2007年年度金融研讨会上的演讲中首次使用的一个术语。影子银行是指提供类似商业银行服务的非银行金融中介机构的集合。然而，影子银行没有银行执照，也不接受存款。他们依靠由商业票据支持的资产提供的短期资金。它们也可以通过子公司或控股公司赞助或附属于银行。它们通常是投资者和借款人之间的中介，可以向银行提供类似的产品，如抵押贷款，并促进信贷安排。著名的影子银行有雷曼兄弟（Lehman Brothers）和贝尔斯登（Bear Sterns），它们都在2008年金融危机期间倒闭。与零售银行不同，影子银行在紧急情况下不能向政府借款，其存款人的投资基金不受保险保障。
Therefore, regulators are aiming to reduce risk that a shadow bank can pose on the economy should it default. Regulators can increase capital requirements to reduce sovereign risk. Currently, the shadow banking industry is absent of these rules and possibly will grow to fill the gap on the market. Therefore, this will intensify the competition between banks and shadow banks in the line of providing credit on the market (McKinsey, 2016). Therefore, regulation of the banking sector is essential, and it will be discussed in the next section.
因此，监管机构的目标是降低影子银行违约时可能对经济造成的风险。监管机构可以提高资本要求，以降低主权风险。目前，影子银行业缺乏这些规则，可能会发展壮大以填补市场空白。因此，这将加剧银行和影子银行在向市场提供信贷方面的竞争。因此，银行部门的监管至关重要，将在下一节讨论。
2.1.5 Regulation 规则
The new EU regulation, Payment Service Directive 2 (PSD2) is set to change the banking landscape for good. The main aims of the new directive are to drive innovation, transparency, allow harmonised payments within the EU, increase competition through decreased prices for payments while ensuring customer protection and payment security. Until January 2018, only retail banks had access to their customers’ data. The PSD2 directive forces European banks to open their infrastructures and share their customers’ information, through open APIs (application program interface) to Third Party Providers (TPP) such as retailers, high-tech companies (Facebook, Google) and FinTechs while ensuring the necessary security in connection with the data transfer (PwC, 2018); Magyar Nemzeti Bank, 2017).
新的欧盟法规《支付服务指令2》（PSD2）将永久改变银行业格局。新指令的主要目的是推动创新、提高透明度，允许欧盟内部的统一支付，通过降低支付价格增加竞争，同时确保客户保护和支付安全。直到2018年1月，只有零售银行可以访问其客户的数据。PSD2指令迫使欧洲银行通过向零售商、高科技公司（Facebook、Google）和FinTechs等第三方提供商（TPP）开放API（应用程序接口），开放基础设施并共享客户信息，同时确保数据传输的必要安全性。
In general, Third Party Payment (TPP) Service Providers can be divided into two elements, third party Account Information Service Providers (AISP) and third party Payment Initiation Service Providers (PISP). AISPs receive access to customer’s account information provided by the banks. This access is granted by the account holder. AISPs are purely getting access to consumer accounts to receive and analyse their data. AISPs main goal is to analyse data associated with the different financial transactions, PISPs are allowed to initiate payments issued by the bank, the customer or retailer. PISPs use the information provided by the banks to facilitate online banking payments (EY, 2017). Due to the sensitivity of these data sets, it is essential that the sector is highly regulated.
一般来说，第三方支付（TPP）服务提供商可分为两个要素，即第三方账户信息服务提供商（AISP）和第三方付款启动服务提供商（PISP）。AISP可以访问银行提供的客户账户信息。此访问权限由帐户持有人授予。AISP纯粹是获取消费者账户以接收和分析其数据。AISP的主要目标是分析与不同金融交易相关的数据，允许PISP启动银行、客户或零售商发布的付款。PISP利用银行提供的信息促进网上银行支付。由于这些数据集的敏感性，该行业必须受到高度监管。
The level of regulation can influence the competitiveness of an industry and the pace that a particular industry can innovate. If an industry is highly regulated with a significant number of steps introduced for regulatory checks, then it is more challenging to be innovate and it can take longer time to bring a new product or services to the market. The retail banking industry is a unique market as it is highly regulated, yet there are other non-traditional players emerging on the market that are outside of the regulators’ authority and applying significant level of competitive pressure to the traditional retail banking sector.
监管水平可以影响一个行业的竞争力和特定行业的创新速度。如果一个行业受到高度监管，引入了大量监管检查步骤，那么创新就更具挑战性，将新产品或服务推向市场可能需要更长的时间。零售银行业是一个独特的市场，因为它受到高度监管，但市场上出现了其他非传统参与者，这些参与者超出了监管机构的权限，并对传统零售银行业施加了巨大的竞争压力。
Conclusion 结论
Retail banks are facing a number of challenges and they inevitably need to address some fundamental questions such as who their customers are and what are their expectations. They will need to develop a strategy that sets out value proposition to their customers to ensure that they meet their changing expectations. Banks will need to address their capability shortage in terms of data analytics. It appears that while they have all their customers’ data, they cannot effectively analyse their data, therefore, they cannot meet their customers’ expectations. Competition posed by non-traditional players are also significant. Traditional retail banks will need to develop strategies to deal with the competition and technological changes while they are remaining regulatory compliant. They will need to position themselves and clearly state what competitive advantages will distinguish them in the marketplace. Most importantly, they are in need to re-organise their internal structure and operational model to enable innovation and long-term success.
Assignment范文总结零售银行正面临着许多挑战，它们不可避免地需要解决一些基本问题，例如客户是谁以及他们的期望是什么。他们需要制定一项战略，向客户提出价值主张，以确保满足他们不断变化的期望。银行需要解决数据分析方面的能力不足问题。虽然他们拥有所有客户的数据，但他们无法有效地分析数据，因此无法满足客户的期望。非传统玩家构成的竞争也很激烈。传统零售银行将需要制定战略，以应对竞争和技术变化，同时保持监管合规。他们需要对自己进行定位，并明确说明自己在市场上的竞争优势。最重要的是，他们需要重新组织内部结构和运营模式，以实现创新和长期成功。本站提供各国各专业Assignment代写或指导服务，如有需要可咨询本平台。