Retail Banking Strategies in Front of the Technological Revolution

Lately, the longevity of the traditional banking model has been more acutely put into question. Because of the joint context of, on the one hand, the major technological transformations which foster the emergence of new models, such as “neobanks” exclusively on line, fintechs or GAFAs which are coming into the banking sector and, on the other hand, very unfavorable financial conditions. Thus there is currently a strong belief that the only way to get out of this difficult situation would be a defensive retract. While returning to basics of retail banking activity, the aim of this article is to demonstrate that actually, banks have major assets that can be highlighted in regards to the new emerging models. Within this context, in an offensive vision of their activity, banks have to give more and more added value to their clients in a comprehensive strengthened relationship model. This implies major investments in training as well as digital, but also building alliances with new partners of the banking sector, where appropriate.