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Steve Klinkerman
(212) 953-4444
sklinkerman@novantas.com
Novantas Launches Retail Banking Research Series with Consumer Bankers Association
March 01, 2005
NEW YORK – Novantas LLC, leading provider of management consultancy and information services to the financial industries, today announced the launch of a new retail banking research series with the Consumer Bankers Association.
The Defining Difference research series will delve into various aspects of revenue generation and competitiveness in retail banking. Created exclusively for the CBA, the series will detail the business issues that executives face, providing specific recommendations on how to respond and discuss the organizational implications.
The Consumer Banker's Association is the recognized voice on retail banking issues in the nation's capitol. CBA members collectively hold two-thirds of the industry's total assets, and include most of the nation's largest bank holding companies, as well as regional and super-community banks.
"Novantas is delighted to work in partnership with the CBA on this important project," said Dave Kaytes, a Managing Director.
Broadly in retail banking, institutions are at the onset of a momentous transition from generalized customer initiatives to more specialized outreaches, Kaytes said. While it has been helpful to improve overall service, staff and product capabilities, especially in the wake of challenging mergers, many franchises have not yet been able to produce desired levels of revenue growth.
"We believe the situation is reflective of a need to go beyond generalized approaches and respond to the distinctive needs of customer subsets – on a segment basis, on a geographical basis, and on an individual basis," Kaytes said. Strategically, he said, the retail banking industry is headed into an era of transition from standardized, production-centered franchises to variegated, segment-centered franchises. These are the issues that will be explored in The Defining Difference.
Novantas is the acknowledged leader in customer science and revenue strategy in the financial services industry. The Firm specializes in investigating and interpreting customer needs, attitudes and behaviors in ways that help companies to refine marketing decisions, customer strategies, and sales and service activities.