News & Views - Savantor

The evolution of high street banking

Saturday, 09 April 2016

Reducing staff and the closure of bank branches is a theme which has seemed to be prevalent throughout the past month. This is not limited to the UK market with cuts announced by both Santander in Spain and DNB in Norway as well as RBS in the UK. This is a theme which has been prevalent throughout 2016 so far, with RBS, for example, announcing the loss of almost 1,600 jobs this year to date and Lloyds also cutting 1,750 jobs and 26 branches as part of a 3-year plan. Whilst there are many reasons behind the closures, ranging from automation and better technology to reduced customer footfall in branches, this is a trend which seems likely to continue as Banks, particularly the high street institutions, review their strategies in the light of current market and customer behavior changes and the resulting impact upon profitability. This month also saw the launch of the first digital-only bank in the UK.

Atom Bank will initially be offering loans and savings accounts but are intending to follow this with a current account later this year; the Bank will no doubt hold particular appeal for many 'techno-savvy' customers who are comfortable with their mobile phone being the instrument of choice for conducting payment activity. New entrants of this kind into the financial services arena are likely to make it even more difficult for traditional banks to survive in their current format.

We are in the midst of a fast moving environment which, whilst it unfortunately and inevitably has casualties in its development and restructuring, is nevertheless exciting to watch and be part of as it morphs and moves forward. Who would have thought, a couple of years ago, that Barclays would be offering its branches to provide a 'Click and Collect' Service for Amazon in an attempt to establish a new function and increase footfall for the local bank branch?

Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

Market Insights

"Savantor did a good job in helping us understand the dynamics of a key growth area for Trionis. Savantor's ability to listen and their degree of commitment have always impressed me. They have been of great help in providing us important market insights and I would not hesitate to work with them again in future."

Ernst Verbeek, Managing Director - Trionis - Belgium

Acquirer Strategy and Operating Model

"Savantor brought an effective blend of European acquirer market expertise and transaction processing solution design. Their experts quickly forged strong working relationships with our team. We enjoyed working with them to create our future acquirer strategy."

Mikko Hyttinen, SVP - Lending Services - OP-Pohjola Group - Finland

Credit Card Migration and Operational Support

"The bank has undergone significant transformation of its card business on both the issuing and acquiring sides. One business partner we have looked to for support in the areas of strategy, major project leadership, management analysis and ongoing business support is Savantor. The Savantor team has contributed to our success as we have leveraged their deep industry knowledge and broad range of operational skills."

Sean Sheehan, Service Management Director - Bank of Ireland

EMV Migration Planning

"It was a strategic imperative for the bank to be EMV compliant for our payment cards and the experience that Savantor brought to the company has proved to be invaluable."

Eddie Sweeney, Chief Technology Officer - AIB Bank - Ireland

Credit Risk Review for New Product Launch

"We needed expert help at short notice and Savantor were very impressive in their response and knowledge. The results were very clear and useful, enabling us to quickly make good progress on the next steps."

Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

Moneris Solutions

"Savantor did an outstanding job of the review and I received nothing but positive feedback on the interaction with our management team."

Jeff Guthri, COO - Moneris Solutions - Canada

Platform Selection

"Savantor's support in our platform selection process has enabled us to sustain our profitability and positioning for the future. Their advice and guidance was essential to our decision-making."

Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

Acquirer Specialist Support

"OP-Pohjola Group has used Savantors help in numerous different specialist projects differing from risk assessment to management tool creation to transaction analysis. We have been very satisfied by the quality of the service provided by Savantor's experts."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.