Wednesday, June 15, 2011
Second life Of Online Banks Part.II
Boursorama is a convincing example of this model. Since its merger with Societe Generale, Boursorama is no longer confined to the business broker but has become a real bank. However, if the online bank has no place as an independent financial organization, recent operations have shown that banking online is now essential to any actor with a network. Newcomers in the banking landscape have understood. Insurers having embarked on the adventure of assurfinance began by acquiring or developing a range of online banking in addition to the existing branch network.
The acquisition of online banks by banks should not be seen as a way to computerize the customer relationship. Indeed, banks are now looking to boost their network by opening branches. The agency is the best way to attract customers, offering Internet users the opportunity to simplify the management of current operations.
Nevertheless, some players have managed to build a profitable model around online banking service. This model is based on tactical development articulated in two phases:
(I) a startup focused on specialized and profitable activities. For example, the tactic is to capture customer deposits and generate commissions on high value added activities (securities, life insurance ...) for which the customer is willing to pay.
(Ii) extension to activities of daily bank (current accounts, credit card) which are less profitable, because requiring investment in major infrastructure, earn little and are subject to very strong competition.