Building model for a branchless retail bank

The mid-value retail banking market in South Africa is over-traded and highly competitive.

Any new player would need a clear and differentiated customer value proposition (CVP) in order to acquire a share of the market. In the higher-income segments, retail banking offerings must, in addition, be at the cutting edge of technology, as clients in those segments expect and demand the convenience of digital channels.

Genesis partnered with an existing specialist bank in South Africa to design an operating model for their proposed retail operations.

As the bank’s target clientele was professionals in the middle-income segment, the operating model was designed to be cashless and centred around an online offering with call centre functionality to provide back-up.

Physical infrastructure would be outsourced to existing retail banks.

We designed the bank’s operating model through the following five phases:

This process was concluded with the development of a high-level implementation roadmap designed to provide the bank with the key dates and milestones required before going live. It outlined the people, process, technology and infrastructure milestones required to build, test and deploy the retail offering successfully.