The strategy focuses on significantly increasing institutional banking GTB fees and commissions to make up 30% of total revenues from the current 14%. It involves three main strategies. Firstly, enhancing product and service offerings by identifying market gaps and developing client-tailored GTB products. For example, strengthening digital platforms and implementing competitive pricing will enhance user experiences and encourage client loyalty.
Secondly, the strategy aims to expand the client base and deepen existing relationships. By identifying high-potential sectors and enhancing relationship management, the bank can offer exclusive incentives. Organizing industry-specific seminars and leveraging networks can boost lead generation, while regular training for relationship managers ensures knowledgeable client interactions.
Lastly, optimizing operational efficiency focuses on process audits and automation to cut costs and improve efficiency. Standardizing procedures and investing in staff training will enhance overall operational capabilities. A centralized support team and regular reviews of risk management frameworks ensure smooth operations and compliance across GTB activities.
The strategies
⛳️ Strategy 1: Enhance product and service offerings
- Conduct market research to identify gaps in current offerings
- Develop new GTB products and services tailored to client needs
- Improve existing product features based on client feedback
- Strengthen digital banking platforms for enhanced user experience
- Implement a competitive pricing strategy for GTB products
- Enhance cross-selling of GTB products within the bank
- Provide tailored GTB solutions to various industry sectors
- Invest in technology to streamline GTB product delivery
- Create a dedicated team for product innovation and development
- Regularly review and update the GTB product portfolio
⛳️ Strategy 2: Expand client base and deepen existing relationships
- Identify high-potential industries and sectors for GTB services
- Implement targeted marketing and outreach programmes
- Develop a client segmentation strategy to tailor services
- Enhance relationship management with key corporate clients
- Offer exclusive incentives for long-term partnership agreements
- Provide regular training for relationship managers on GTB services
- Organise industry-specific seminars and workshops for clients
- Leverage partnerships and network opportunities for lead generation
- Implement a robust client feedback system to improve offerings
- Utilise data and analytics to identify upsell and cross-sell opportunities
⛳️ Strategy 3: Optimise operational efficiency and streamline processes
- Conduct an audit of current GTB processes to identify inefficiencies
- Implement process automation where possible to reduce costs
- Standardise processes across different regions and branches
- Invest in staff training to enhance operational capabilities
- Use data analytics to monitor and optimise GTB transaction flows
- Enhance collaboration between different units within the bank
- Develop a centralised support team for GTB operations
- Implement industry best practices in GTB operations
- Regularly review and update operational risk management frameworks
- Ensure compliance with regulatory requirements across all GTB activities
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
