As the recent ‘Credit Crisis’ continues to reshape the global financial services industry, there are many institutions whose major focus remains on quickly adapting their business models to this new environment. These institutions are examining what existing lines of business will be dependable in the long-term, and are deciding which structures, systems and processes within these lines will need to be changed in order to remain competitive. They are also examining lines of business that are unlikely to recover in the short-term, and are deciding how to redeploy the resources in a way that helps recapture some of the lost revenue streams.
In this article, we analyze the challenges arising out of the current financial scenario. We also discuss the ‘Top 10’ business issues, strategic responses, and technology initiatives that retail bankers will confront and juggle throughout 2009 to recapture the lost revenues.
