Banking Assignment代寫范例：Developments in the Retail Banking Sector

Banking Assignment代寫范例-零售銀行業的發展。本文是一篇留學生銀行學Assignment寫作范文，主要內容是講述強大的力量正在改變零售銀行業。這些變化是由于幾個不同的因素造成的，例如客戶期望的變化、技術能力的變化、更嚴格的監管要求以及非傳統參與者施加的激烈競爭。在此之前，該行業的變化相當緩慢，更多的是沿著進化的道路發展。為了取得成功，銀行需要做好準備，以確保它們正在轉變為一個盈利、靈活、以客戶為中心、符合監管要求的創新機構。Banking Assignment范文將討論零售銀行業當前的競爭格局。請參考。

Introduction 引言
It is undeniable that strong forces are changing the retail banking industry. These changes are due to several different elements such as shifting customers’ expectations, changing technological capabilities, stronger regulatory requirements and fierce competition imposed by non-traditional players. Previously, the industry was rather slow to change, followed more of an evolutionary path. In order to be successful, banks need to prepare themselves to ensure that they are transforming into an innovative institution that is profitable, agile, customer focused and regulatory compliant. The next section will discuss the current competitive landscape of the retail banking industry.
2.The current competitive landscape of the retail banking sector 零售銀行業當前的競爭格局
Banks are special institutions due to the imperative position they hold in an economy and the huge impact failure of this sector may have on society. However, banks are inherently unstable due to their structural fragility. The low ratios of cash reserves to assets means that most of banks assets are illiquid in comparison to their liability. Banks are also highly leveraged meaning they have few fixed assets and have high levels of debt relative to their equity. Banks are heavily interconnected as borrowers and lenders in the interbank network. The next section will analyse the challenges that are currently facing the retail banking sector.
銀行是特殊機構，因為它們在一個經濟體中的重要地位，以及這個部門的失敗可能對社會產生的巨大影響。然而，由于銀行的結構脆弱性，它們本質上是不穩定的?，F金儲備與資產的比率較低意味著，與負債相比，大多數銀行資產都是非流動資產。銀行的杠桿率也很高，這意味著它們的固定資產很少，相對于股本而言，債務水平也很高。在銀行間網絡中，銀行作為借款人和貸款人緊密相連。下一節將分析零售銀行業目前面臨的挑戰。
2.1  Challenges facing the retail banking sector 零售銀行業面臨的挑戰
Retail banks are highly complex institutions due to their legacy products, systems and operations. Banks became segmented and complex institutions with different layers of management, departments, products, IT systems and distributional channels. Furthermore, retails banks might also serve multiple markets with different regulations and that further complicates their overall structure and operation and adds to the challenges that they are currently facing.
零售銀行由于其遺留產品、系統和運營而成為高度復雜的機構。銀行成為具有不同管理層、部門、產品、IT系統和分銷渠道的細分和復雜機構。此外，零售銀行還可能為具有不同監管規定的多個市場提供服務，這將使其整體結構和運營更加復雜，并增加其目前面臨的挑戰。
The challenges facing the retail banking industry can be divided into five main categories, they are (i) customers, (ii) banks’ internal structures and business models, (iii) product simplification and innovation, (iv) competition posed by non-traditional players and (v) regulation. All these challenges are interconnected, and they can pose a significant threat on the future success of retail banks.
零售銀行業面臨的挑戰可分為五大類，它們是（i）客戶，（ii）銀行的內部結構和業務模式，（iii）產品簡化和創新，（iv）非傳統參與者構成的競爭和（v）監管。所有這些挑戰都是相互關聯的，它們可能對零售銀行未來的成功構成重大威脅。       
2.1.1 Customers 客戶
Currently, the retail banking industry is facing two challenges in terms of their customers. Firstly, attracting new customers for growth and secondly, banks need to adapt to the changing customers’ expectations that are taking place on the market. These two challenges will be discussed in detail below.
目前，零售銀行業在客戶方面面臨兩個挑戰。首先，吸引新客戶以實現增長，其次，銀行需要適應市場上不斷變化的客戶期望。下面將詳細討論這兩個挑戰。
2.1.1.1 Attracting new customers 吸引新客戶
Banks need to grow therefore attracting new customers is a crucial element for their long-term success. In order to attract new customers, banks need to develop genuine customer centricity (McKinsey, 2016); (PWC, 2017); (Deloitte, 2018); This means that banks need to develop a complete understanding of their customers and their needs. They need to leave their old sales and product-oriented mindset behind and focus on enhancing customer experience. First-class customer service will lead to customer loyalty and income growth. Banks are still in the old-fashioned view, that by sending customers multiple product offers something will eventually appeal to their customers out of the bundle. Customers’ expectations are changing, the industry must realise this trend and seize the opportunities to grow and build outstanding customer service that will attract new customers and enhance customer experience to their current clientele.
銀行需要發展，因此吸引新客戶是其長期成功的關鍵因素。為了吸引新客戶，銀行需要發展真正的以客戶為中心；這意味著銀行需要全面了解客戶及其需求。他們需要拋棄舊的銷售和產品導向思維，專注于提升客戶體驗。一流的客戶服務將帶來客戶忠誠度和收入增長。銀行仍持傳統觀點，即通過向客戶發送多種產品，最終會從捆綁產品中吸引客戶?？蛻舻钠谕诎l生變化，行業必須意識到這一趨勢，抓住機遇，發展和建立優秀的客戶服務，以吸引新客戶，并提高現有客戶的客戶體驗。
2.1.1.2  Changing customers’ expectation 改變顧客期望
It is evident that shifting customers’ behaviors are redefining banks’ structures and operational models. To address those changes, banks are required to make significant investments into their strategy, technology, operation while placing the customer at the center of their operation. However, it appears that banks do not fully understand and know their customers’ wants and needs. Due to the complex internal structure of banks, risk and credit decisions are taken at the product level and not at the customer level, which leaves initiating and implementing changes more difficult.
很明顯，客戶行為的轉變正在重新定義銀行的結構和運營模式。為了應對這些變化，銀行需要對其戰略、技術和運營進行重大投資，同時將客戶置于其運營的中心。然而，銀行似乎并不完全了解和了解客戶的需求。由于銀行內部結構復雜，風險和信貸決策是在產品層面而不是在客戶層面做出的，這使得啟動和實施變更更加困難。
When looking at the changing customers’ preferences, there are four key aspects driving this shift. Firstly, customers are now expecting more. Customers are looking for personalised, relevant, location-based offers from their banks in a timely manner. Therefore, banks need to engage customers and provide them with interactive applications to enhance user-experience. In order to understand customers, banks will need to obtain and analyse multiple sources of internal and external data. This will allow banks to provide the relevant solution to their customers in a timely manner. To do that, banks will need to redesign their core processes from their customer point of view, starting with a simplified product set. A viable option for banks is to create a multichannel strategy that balances cost and services while focusing on the customer (PWC (a), 2017).
在觀察客戶偏好的變化時，有四個關鍵方面推動了這一轉變。首先，客戶現在期望更多。客戶正在尋找他們的銀行及時提供的個性化、相關、基于位置的服務。因此，銀行需要吸引客戶并為他們提供交互式應用程序，以增強用戶體驗。為了了解客戶，銀行需要獲取和分析多種內部和外部數據來源。這將使銀行能夠及時向客戶提供相關解決方案。為此，銀行需要從客戶的角度重新設計其核心流程，從簡化的產品集開始。銀行的一個可行選擇是創建一個多渠道戰略，平衡成本和服務，同時關注客戶。
Secondly, the rapid growth of social media and mobility enabled customers to turn to their peers for information and recommendations as opposed to a financial expert in banks. While customers feel that they can trust their banks to do the basics such as keep their money safe, they have lower level of trust when it comes to strategic goals such as receiving unbiased advice (Maechler et al, 2018).
其次，社交媒體和流動性的快速增長使客戶能夠向同行尋求信息和建議，而不是銀行的金融專家。雖然客戶覺得他們可以信任銀行做一些基本的事情，比如保證資金安全，但在戰略目標方面，比如接受公正的建議時，他們的信任度較低。
Thirdly, customers are now better informed due to the easy access to research and data available online. Consumers have more financial options available online now, for instance, they can compare and purchase alternative financial products and services easier and faster (PWC, 2017).
第三，由于可以方便地訪問在線研究和數據，客戶現在更了解情況。消費者現在有更多的在線金融選擇，例如，他們可以更容易、更快地比較和購買替代金融產品和服務。
Fourthly, the rise of social media platforms enables to raise a single consumer voice online. Banks should address negative customer experiences and deal with them promptly by investigating the cause of the problem to ensure that it will not happen again in the future. A strong online presence should help to control customer communication and reputation and to reinforce a positive brand image (Accenture, 2017); (PWC (a), 2017). Therefore, banks should invest in an effective multichannel strategy that serves their customer. In order to provide superior experience to their customers, banks need to reconsider their internal structure and operational model; this will be discussed in the next section.
第四，社交媒體平臺的興起能夠在網上發出單一的消費者聲音。銀行應解決負面客戶體驗，并通過調查問題的原因及時處理，以確保將來不會再次發生此類問題。強大的在線影響力應有助于控制客戶溝通和聲譽，增強積極的品牌形象。因此，銀行應投資于有效的多渠道戰略，為客戶服務。為了向客戶提供卓越的體驗，銀行需要重新考慮其內部結構和運營模式；這將在下一節討論。
2.1.2  Internal structure and operational model 內部結構和運營模式
Banks are highly complex institutions due to their operational model and products offerings. This created silos in banks, where each department manage their own cost, risk etc. Departmentalization entails different layers of management, products, distribution channels, IT requirements. Most of the retail banks can also be found on different foreign markets with diverse regulations and customer which is further complicating their operational model. Therefore, banks need to re-organise their internal operational structure, to introduce a holistic approach to their operation (Deloitte, 2018); (PWC, 2017); (McKinsey, 2016).
由于銀行的運營模式和產品種類，它們是高度復雜的機構。這在銀行中形成了筒倉，每個部門管理自己的成本、風險等。部門化需要不同的管理層、產品、分銷渠道和IT要求。大多數零售銀行也可以在不同的外國市場找到，具有不同的法規和客戶，這使其運營模式更加復雜。因此，銀行需要重新組織內部運營結構，為其運營引入整體方法。
Lean business management techniques such as defining customer’s value, which ties back to the point that was discussed above about the importance of banks knowing their customers and serving their needs accordingly, can assist banks to achieve success on the market. A leaner approach to operation can enable the bank to produce new products faster than the competitors and to obtain complete customer understanding through data analytics (McKinsey, 2016).
精益業務管理技術，例如定義客戶價值，這與上文討論的銀行了解客戶并相應滿足其需求的重要性有關，可以幫助銀行在市場上取得成功。更精簡的運營方法可以使銀行比競爭對手更快地生產新產品，并通過數據分析獲得客戶的全面了解。
An effective multichannel strategy has the potential to increase customer satisfaction, to simplify internal processes and to increase revenue. A multichannel strategy is about increasing the number of channels for customers to interact with their retail bank in a consistent manner throughout all channels. However, multichannel strategy is considered a technological issue due to its nature of different integrated databases as opposed to a successful revenue generator. Due to banks’ internal structures, their multichannel distributions are still operating in silos, therefore, they are unable to offer seamless customer journey experience. To successfully execute multichannel strategy, banks need to understand their customers’ preferences and, as it was discussed above, banks are falling short on this capability. If banks can understand and anticipate their customers’ preferences through data analytics, they can explore value proposition for the different channels and for the different customer segments. Therefore, in order to be successful in the future, banks will need to move from branches to multichannel distributions such as self-services, in-store branches, labs to support their desired customer experience. An optimised distribution network supports the customers’ needs and minimises the cost of delivery (Gogus, 2011); (PWC (a) 2017). This will be discussed in the next section.
有效的多渠道戰略有可能提高客戶滿意度、簡化內部流程和增加收入。多渠道戰略是增加客戶與零售銀行在所有渠道中以一致的方式互動的渠道數量。然而，多渠道戰略被認為是一個技術問題，因為它具有不同的綜合數據庫的性質，而不是一個成功的創收者。由于銀行的內部結構，它們的多渠道分銷仍處于孤立狀態，因此無法提供無縫的客戶旅程體驗。為了成功實施多渠道戰略，銀行需要了解客戶的偏好，正如上文所討論的，銀行在這方面能力不足。如果銀行能夠通過數據分析了解和預測其客戶的偏好，他們就可以探索不同渠道和不同客戶群體的價值主張。因此，為了在未來取得成功，銀行將需要從分行轉移到多渠道分銷，如自助服務、店內分行、實驗室，以支持其所需的客戶體驗。優化的分銷網絡支持客戶的需求，并將交付成本降至最低。這將在下一節討論。
2.1.3 Product simplification and innovation 產品簡化和創新
Innovation is essential for retail banks’ survival. Retail banks carry many products which involves cost in operation, technology, service and risk and regulatory challenges. Each of their products further adds complexity and cost to the overall operation of the banks. (PWC (a), 2017); (McKinsey, 2016). Innovation can be achieved by streamlining and simplifying current product offerings, in other words, optimising operation.
創新對零售銀行的生存至關重要。零售銀行有許多產品，涉及運營成本、技術、服務、風險和監管挑戰。他們的每種產品都進一步增加了銀行整體運營的復雜性和成本。創新可以通過精簡和簡化當前的產品，換言之，優化運營來實現。
In order to streamline operations, banks need to ensure that they correctly record all data of their customers as this will enable them to provide tailored offerings to their customers. Effective multichannel approach can assist banks to decide which segment or processes to invest into that will bring a considerable return on their investment (Bellens, 2016).
為了簡化運營，銀行需要確保正確記錄客戶的所有數據，因為這將使他們能夠為客戶提供量身定制的服務。有效的多渠道方法可以幫助銀行決定投資哪些細分市場或流程，從而為其投資帶來可觀的回報。
Simpler products and portfolios with transparent pricing are essential for banks to consider. The first step in product simplification is to be transparent and communicate values, what differentiates one bank from another in the competitive arena (McKinsey, 2016). While regulation and technological changes are creating opportunities for bank’s innovations, they are also creating opportunities for non-traditional players on the market. The next section will discuss the competition posed by non-traditional players in the industry.
銀行必須考慮更簡單的產品和具有透明定價的投資組合。產品簡化的第一步是透明并傳達價值觀，這是在競爭舞臺上區分一家銀行和另一家銀行的關鍵（麥肯錫，2016）。在監管和技術變革為銀行創新創造機會的同時，也為市場上的非傳統參與者創造了機會。下一節將討論行業中非傳統參與者構成的競爭。
2.1.4   Competition by non-traditional players 非傳統參與者的競爭
In general, there are two types of non-traditional players on the market, they are (i) FinTechs and (ii) Shadow Banks.
一般來說，市場上有兩類非傳統參與者，即（i）金融科技公司和（ii）影子銀行。
2.1.4.1  FinTechs 金融技術
FinTech is a term mixing of the words of “finance” and “technology”. It refers to the industrial changes that are coming from the convergence of financial services and IT (Kim et al, 2015; Neinaber, 2016). FinTech innovations can cover the whole banking value chain or just certain elements of the chain. If FinTechs cover the entire value chain, it can have a significant impact on the banks’ business model. However, most FinTech innovations only cover one element of the value chain to provide a faster and more cost-effective technological solution and this allows them to be competitive. FinTechs competitiveness depends on the retail banks’ ability to fast develop these technological competencies in-house and successfully replicate these innovations in line with market shifts. While there are a number of benefits of FinTechs such as convenience, cheaper deals, more options etc., there are also a number of risk factors associated with their products, for instance, unclear rights (FinTechs may use different business models to traditional retail banks and this can make it challenging for the customer to identify their rights should something go wrong) or technology based risks (personal data may be mis-used and customer could fall victim to cybercrime) (Central Bank of Ireland, 2017; Magyar Nemzeti Bank, 2017).
FinTech是一個混合了“金融”和“技術”兩個詞的術語。它指的是金融服務和It融合帶來的行業變化。FinTech創新可以覆蓋整個銀行價值鏈，也可以只覆蓋鏈中的某些元素。如果FinTechs覆蓋整個價值鏈，則會對銀行的業務模式產生重大影響。然而，大多數FinTech創新僅涵蓋價值鏈的一個要素，以提供更快、更具成本效益的技術解決方案，這使其具有競爭力。FinTechs的競爭力取決于零售銀行在內部快速發展這些技術能力并根據市場變化成功復制這些創新的能力。雖然FinTechs有許多好處，例如方便、便宜的交易、更多的選擇等，但也有一些與產品相關的風險因素，例如，權利不明確（FinTechs可能會使用不同于傳統零售銀行的業務模式，這會使客戶在出現問題時難以確定自己的權利）或基于技術的風險（個人數據可能被誤用，客戶可能成為網絡犯罪的受害者）。
2.1.4.2  Shadow Banks 影子銀行
Shadow banking is a term that was first used by the economist, Paul McCulley, in a 2007 during his speech at the annual financial symposium. The term shadow bank is used for a collection of non-bank financial intermediaries that provide services similar to commercial banks. However, shadow banks do not have banking licenses, and they do not take deposits. They rely on short term funding provided by asset backed by commercial papers. They can also be sponsored or affiliated to banks through subsidiaries or holding companies. They are typically intermediaries between investors and borrowers and they can offer similar products to banks such as mortgages and facilitate credit arrangements. Examples of well-known shadow banks are the Lehman Brothers or Bear Sterns, both collapsed in 2008 during the Financial Crises. Unlike retail banks, shadow banks cannot borrow from the government in case of emergency and their depositors’ investment funds are not covered by insurance (Kodres, 2013).
影子銀行是經濟學家保羅·麥卡利（Paul McCulley）在2007年年度金融研討會上的演講中首次使用的一個術語。影子銀行是指提供類似商業銀行服務的非銀行金融中介機構的集合。然而，影子銀行沒有銀行執照，也不接受存款。他們依靠由商業票據支持的資產提供的短期資金。它們也可以通過子公司或控股公司贊助或附屬于銀行。它們通常是投資者和借款人之間的中介，可以向銀行提供類似的產品，如抵押貸款，并促進信貸安排。著名的影子銀行有雷曼兄弟（Lehman Brothers）和貝爾斯登（Bear Sterns），它們都在2008年金融危機期間倒閉。與零售銀行不同，影子銀行在緊急情況下不能向政府借款，其存款人的投資基金不受保險保障。
Therefore, regulators are aiming to reduce risk that a shadow bank can pose on the economy should it default. Regulators can increase capital requirements to reduce sovereign risk. Currently, the shadow banking industry is absent of these rules and possibly will grow to fill the gap on the market. Therefore, this will intensify the competition between banks and shadow banks in the line of providing credit on the market (McKinsey, 2016). Therefore, regulation of the banking sector is essential, and it will be discussed in the next section.
因此，監管機構的目標是降低影子銀行違約時可能對經濟造成的風險。監管機構可以提高資本要求，以降低主權風險。目前，影子銀行業缺乏這些規則，可能會發展壯大以填補市場空白。因此，這將加劇銀行和影子銀行在向市場提供信貸方面的競爭。因此，銀行部門的監管至關重要，將在下一節討論。
2.1.5 Regulation 規則
The new EU regulation, Payment Service Directive 2 (PSD2) is set to change the banking landscape for good. The main aims of the new directive are to drive innovation, transparency, allow harmonised payments within the EU, increase competition through decreased prices for payments while ensuring customer protection and payment security. Until January 2018, only retail banks had access to their customers’ data. The PSD2 directive forces European banks to open their infrastructures and share their customers’ information, through open APIs (application program interface) to Third Party Providers (TPP) such as retailers, high-tech companies (Facebook, Google) and FinTechs while ensuring the necessary security in connection with the data transfer (PwC, 2018); Magyar Nemzeti Bank, 2017).
新的歐盟法規《支付服務指令2》（PSD2）將永久改變銀行業格局。新指令的主要目的是推動創新、提高透明度，允許歐盟內部的統一支付，通過降低支付價格增加競爭，同時確保客戶保護和支付安全。直到2018年1月，只有零售銀行可以訪問其客戶的數據。PSD2指令迫使歐洲銀行通過向零售商、高科技公司（Facebook、Google）和FinTechs等第三方提供商（TPP）開放API（應用程序接口），開放基礎設施并共享客戶信息，同時確保數據傳輸的必要安全性。
In general, Third Party Payment (TPP) Service Providers can be divided into two elements, third party Account Information Service Providers (AISP) and third party Payment Initiation Service Providers (PISP). AISPs receive access to customer’s account information provided by the banks. This access is granted by the account holder. AISPs are purely getting access to consumer accounts to receive and analyse their data. AISPs main goal is to analyse data associated with the different financial transactions, PISPs are allowed to initiate payments issued by the bank, the customer or retailer. PISPs use the information provided by the banks to facilitate online banking payments (EY, 2017). Due to the sensitivity of these data sets, it is essential that the sector is highly regulated.
一般來說，第三方支付（TPP）服務提供商可分為兩個要素，即第三方賬戶信息服務提供商（AISP）和第三方付款啟動服務提供商（PISP）。AISP可以訪問銀行提供的客戶賬戶信息。此訪問權限由帳戶持有人授予。AISP純粹是獲取消費者賬戶以接收和分析其數據。AISP的主要目標是分析與不同金融交易相關的數據，允許PISP啟動銀行、客戶或零售商發布的付款。PISP利用銀行提供的信息促進網上銀行支付。由于這些數據集的敏感性，該行業必須受到高度監管。
The level of regulation can influence the competitiveness of an industry and the pace that a particular industry can innovate. If an industry is highly regulated with a significant number of steps introduced for regulatory checks, then it is more challenging to be innovate and it can take longer time to bring a new product or services to the market. The retail banking industry is a unique market as it is highly regulated, yet there are other non-traditional players emerging on the market that are outside of the regulators’ authority and applying significant level of competitive pressure to the traditional retail banking sector.
監管水平可以影響一個行業的競爭力和特定行業的創新速度。如果一個行業受到高度監管，引入了大量監管檢查步驟，那么創新就更具挑戰性，將新產品或服務推向市場可能需要更長的時間。零售銀行業是一個獨特的市場，因為它受到高度監管，但市場上出現了其他非傳統參與者，這些參與者超出了監管機構的權限，并對傳統零售銀行業施加了巨大的競爭壓力。
Conclusion 結論
Retail banks are facing a number of challenges and they inevitably need to address some fundamental questions such as who their customers are and what are their expectations. They will need to develop a strategy that sets out value proposition to their customers to ensure that they meet their changing expectations. Banks will need to address their capability shortage in terms of data analytics. It appears that while they have all their customers’ data, they cannot effectively analyse their data, therefore, they cannot meet their customers’ expectations. Competition posed by non-traditional players are also significant. Traditional retail banks will need to develop strategies to deal with the competition and technological changes while they are remaining regulatory compliant. They will need to position themselves and clearly state what competitive advantages will distinguish them in the marketplace. Most importantly, they are in need to re-organise their internal structure and operational model to enable innovation and long-term success.
Assignment范文總結零售銀行正面臨著許多挑戰，它們不可避免地需要解決一些基本問題，例如客戶是誰以及他們的期望是什么。他們需要制定一項戰略，向客戶提出價值主張，以確保滿足他們不斷變化的期望。銀行需要解決數據分析方面的能力不足問題。雖然他們擁有所有客戶的數據，但他們無法有效地分析數據，因此無法滿足客戶的期望。非傳統玩家構成的競爭也很激烈。傳統零售銀行將需要制定戰略，以應對競爭和技術變化，同時保持監管合規。他們需要對自己進行定位，并明確說明自己在市場上的競爭優勢。最重要的是，他們需要重新組織內部結構和運營模式，以實現創新和長期成功。本站提供各國各專業Assignment代寫或指導服務，如有需要可咨詢本平臺。