Setting up a Customer Retention System for a major bank in Germany

Abstract

During the past years, banks and savings banks in Germany have been facing fundamental changes with regard to retail banking, and this will probably become even more dramatic in the years to come. 15 years ago, it was almost commonplace to talk of a seller’s market when referring to the banking sector. However, the financial market today is close to advancing to a prototype of a buyer’s market. This is especially due to the fact that products have become interchangeable to a relatively high degree. The rapid development of information technology presents another reason for that.