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3 years ago

Big Bank – Small Money! Microfinance and Retail Banking

Big Bank – Small Money! Microfinance and Retail Banking

Reflection on Lessons

Reflection on Lessons Learnt Challenges Bureaucracy Status quo preference - Difficulties to change the mind set Weaknesses in strategic (bank) management Lack of experience in managing risks and liquidity Lack of qualified personnel Lack of a functioning banking IT Often very insufficient accounting systems (profits cannot be attributed to individual products or services) Struggle / competition between financial and non-financial service departments Transactions costs? In comparison to other types of financial institutions lower…(?) (…) Though Post Offices have unique preconditions for the broad supply of financial services there are some challenges to be addressed in the course of the transformation process… 16.11.2009 Seite 16

Reflection on Lessons Learnt - Recommendations (Business case and favourable regulatory environment) Have a clear objective and strategy to achieve it Make sure that your entire organization (management and ordinary staff) understands and is dedicated to the objective and the strategy Fully exploit your strengths (e.g. the existing client base, presence in areas without competitors) Keep things (products, procedures, necessary qualification of staff) as simple and standardized as possible (thus you do not overburden your staff and you are better able to control the business) Invest into a standardized training system for your staff and management Develop a fully fledged risk management system Invest into a core banking IT (permitting a high standardization of your business, supporting the management of risks and access to necessary management information) Do not hesitate but take your chance… (before competitors e.g. with new technologies such as mobile banking devices - enter the market) Study the transformation process of postal organisations in other countries… 16.11.2009 Seite 17

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