Shaken up from all sides, the revenue model of traditional banks is in its last throes:
- Disappearance of cash cows: low interest rate curve, crushing of traditional sources of revenue (packages, account management, spreads, electronic banking (CB, TPE), life insurance).
- The revolution in online and neo-banking and the growing pressure of free banking on everyday banking
The pricing model is being rejected by customers, who no longer wish to pay for fees and operations to which they attach no value. Paradoxically, the two strengths of banks recognized by customers - trust and the relational dimension - are being offered.
Aspirated by the digital, data and positive impact revolutions, banks have become aware of the challenge of reinventing their revenue and value creation models (reflections on open banking and new offering and service platforms).
To achieve this, they need to rely on foresight andinnovation (ideation methods such as Blue Ocean, offer and service design), or data (refined and personalized customer knowledge thanks to data mining) to define new development territories.
Tomorrow's banking revenue model will also be positive-impact, in line with customer demands and the banks' commitment to the energy transition and support for the local economy. In addition to SRI savings and impact loans, banks now need to offer their customers a genuine positive-impact universe, encompassing both the offer and the customer journey.
Last but not least, the new revenue and service model must be accompanied by a global overhaul of pricing methods, so that they are finally in line with the value pillars perceived by the customer. The data-driven approach will enable us to be vigilant in simulating the impact of new models on NBI, and to support major changes in pricing drivers.
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