Thorsten Ströhl is a Partner at zeb and co-lead of our retail banking devision for regional banks. Thorsten has more than 20 years of experience in the German Cooperative Financial Network, both from a cooperative banking and consulting perspective.
Thorsten is an expert when it comes to the digitalization of the retail banking business and data-driven sales in the Cooperative Financial Network.
Regional banks with about 13,000 branches remain the last anchor for customers to experience banking locally. They should therefore start to view their branch network not as a burden, but as an opportunity to stand out against their competitors in the long term. Personal contact and individual advice at branches will remain central to serving bank customers for at least another 20 years.
Roughly 15% of Germany’s population – over 12 million individuals – falls within the 14 to 27 age group. Why are young customers digitally savvy, but financially overwhelmed? In view of the migration of young customers, how is the role of the primary bank changing?
In a world where, on average, people check their smartphones every twelve minutes, banks can no longer afford to ignore mobile-first offerings. Many regional banks responded early and now offer technically sophisticated online banking systems and powerful apps.
App usage is high – and in purely quantitative terms, digital log-ins have even increased customer contact. Yet it is clear that sales success through digital channels is still falling short of its potential.
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