World World Retail Banking Report 2022 1 Retail Banking Report 2022 THE CUSTOMER- ENGAGEMENT IMPERATIVE WHAT BANKS CAN LEARN FROM THE FINTECH PLAYBOOK In collaboration with2 World Retail Banking Report 2022 CONTENTS Foreword 3 4 Executive steering committee Executive summary 5 Insights from our report 6 A disruptive competitive landscape Winning strategies: How banks can pivot to compete 9 13 17 Embracing ecosystem strategies: Learning to compete in a platform world The CMO as customer strategist and chief 21 engagement o?cer In conclusion 23 24 25 31 Methodology Partners with Capgemini FootnotesWorld Retail Banking Report 2022 3 FOREWORD The competitive playing ?eld for banks is evolving quickly, introducing agile new competitors and challenging traditional formulas for success. Customers, not products or business lines, are the center point of strategies and business models today. The ability to leverage large volumes of data and new technologies to understand customers’ journeys and deliver personalized o?ers and experiences is now considered critical to driving loyalty, engagement and, ultimately, growth. Backed by insights from global surveys