Senior Lecturer of the Department of banking of the Faculty of Finance, Economics and Accounting of the Lviv Academic Institute of University of Banking
The article investigates the concept of retail in banking sphere. The term «retail» is related to the processes and mechanisms for the sale of goods and services to end users. In this article, the peculiarities of retail development in Ukraine has been analyzed. It is determined that the segment of retail in Ukraine is currently forming and improving. Therefore, in this area the domestic banks can form their own competitive advantages and cover new segments of the market. For the development of retail in today’s conditions there are certain features: omnichannel trade, digital experience, personalization, new formats of remote inspection. Retail development, under such conditions, is based on the provision of electronic banking services. Namely, with using of such services as provided with the help of bank cards; remote bank customer service. Domestic banks are increasingly using Open Banking, which makes it possible: to develop new solutions using FinTech. The paper outlines perspective directions of retail development by Ukrainian banking institutions. In particular, a partnership between banks and retail companies is promising for banks, which promises additional benefits and opportunities. Perspective is the creation of an innovative division model. Innovative models of the future departments, take on different forms: outlets, automated offices and service centers, etc. The common thing for them, is that the office space is changing substantially. From the place of the transactions they turn into a place for communication and sale of banking products and services. Determinative for banking institutions is the development of multi-channel retail, which implies the simultaneous use of several sales channels, such as offline and online branches, mobile devices, TVs, in order to maximally optimize the process of providing banking services to potential customers. For multi-channel retail banking, the following components are required: sufficient and reliable information on banking services, real-time updates of information on the bank’s website, competitive and flexible tariffs, interest rates for services rendered, a system of risk minimization, and the social part, the feedback (user reviews, comments in social networks, etc.). The formation of a product line of banking retail is based on traditional and non-traditional banking services. The authors define the system of formation a retail banking product line, and defines its main components and benchmarks.
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