A question of balance

Article Abstract:

Banks are now turning to consultative selling to ensure the profitability of their branch offices. Although traditional routine transactions, such as savings accounts and personal loans, are still being offered in these satellite operations, consultative selling is gaining dominance because it promises to raise profitable accounts per customer and sales of investment and insurance products, thereby justifying the expensive branch networks of banking companies. To take advantage of consultative selling, the physical layout of branch banks should be reconfigured to accommodate these additional services. More importantly, the staff should know how to converse about the financial needs of clients, discuss complex products, cross-sell and present the bank as a trusted adviser. Compensation should be reformed to recruit and retain people with the needed skills.

Commercial Banks, Commercial Banking, Investment Advice, Bank Investment Advisory Services, Management, Services, Investment advisers, Branch banks

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A revolution in Chinese banking

Article Abstract:

A Chinese banking reform program is planned to prod the country into economic growth through efficient capital allocation. In an interview herein, Liu Mingkang, Deputy Governor of the People's bank of China, talks about the restructuring of China's banking industry.

China, Strategy & planning, Government regulation (cont), Asia, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Banking industry, Laws, regulations and rules, Interview, Banking law, Liu Mingkang

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