1. Customer experience optimization: banks' retail business needs to be committed to providing a better customer experience. This includes improving digital channels and technologies, providing convenient online and offline services, and personalized financial products and solutions. Banks need to focus on customer needs and provide simple, fast, convenient and secure transactions and services to enhance customer satisfaction and loyalty.
2. Data-driven decision-making: In retail transformation, banks need to use big data and analytics to gain a deeper understanding of customer behavior and preferences and make decisions based on this data. Through in-depth analysis of data, banks can better understand market trends, risks and opportunities, and then optimize product design, pricing strategies and marketing.
3. Innovation and digitalization: Banks need to actively drive innovation and digital transformation. This includes introducing new technologies, developing innovative financial products and services, establishing partnerships, and building digital platforms. Digital transformation can improve a bank's efficiency, reduce costs, and provide a wider range of financial services. Innovation, on the other hand, can help banks continue to develop new areas of business and meet changing customer needs. Bank retail transformation refers to the process by which traditional banking organizations shift their business model, technology and service focus from traditional banking to an emerging customer-centric, digitally based retail banking model.