Abstract
The Zurich Model provides the economic orientation framework for the further development of the business models of banks. It is the analytical framework for deriving the perfectly tailored consequences of the influencing factors outlined in this book, for every single bank. In the digital age, the fundamentals of successful banking business models have changed drastically, as the knowledge advantage of the banks over customers has eroded and the entry barriers for new market participants are sinking. The informed customer is putting pressure on margins. In addition, the regulatory pressure on the banks as a result of the global financial and debt crisis and growing global transparency is intensifying the situation and increasing the pressure to change. The danger is that banks might wish to shape the future using their existing thought patterns, and thus fall into thought traps. And there is the further danger of being undermined by companies whose business models are based on new thought patterns.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsNotes
- 1.
See for example the instalment credit provider easycredit, which has stringently industrialised the loan provision process. At the same time, sales are conducted via the Raiffeisen and cooperative banks as well as its own branches. The customers are integrated into the company’s own branches. They can submit their credit data, calculate the desired loan and it conditions in a stand-alone manner, and then decide whether the data should be sent as a loan application to the credit provider. At the same time the transparency and fairness of the products are advertised.
- 2.
The Jyske Bank points out that it traditionally places value on the balance between the interests of all stakeholders such as customers, employees and shareholders. No bonuses are paid, and there is transparency about salary figures, from lower-level staff to the head of the concern. No shareholder may own more than 10 % of shares without the consent of the bank, and all costs of asset management are also disclosed openly to the customer. There are no retrocessions at all (Marschall 2013).
- 3.
This approach also entails that the banks are competitive. They can only be competitive if they are better than others in fulfilling that for which the customer pays.
- 4.
Social networks can be used as a thermometer in order to evaluate in real time the most valuable capital of a bank: its customer base (Capellmann et al. 2012).
- 5.
The topic of offshore banking seems to be an alternative in avoiding overbanking domestically. However, it is frequently difficult to deal with the large number of state interests affected.
- 6.
More precise sections of DNA are the so-called genes.
References
Boston Consulting Group. (2009). Organisation 2015—Designed to win. Munich.
Capellmann, W., Peverelli, R., & de Feniks, R. (2012). Wie sich die Finanzbranche neu erfindet—Was Kunden von Finanzdienstleistern wirklich erwarten. Munich: FinanzBuch.
Disselbeck, K. (2007). Die Industrialisierung von Banken am Beispiel des Outsourcings. Frankfurt: Knapp Fritz.
King, B. (2010). Bank 2.0: How customer behaviour and technology will change the future of financial services. Brett King: Singapore.
Königswieser, R., & Hillebrand, M. (2004). Einführung in die systemische Organisationsberatung. Heidelberg: Carl-Auer-Systeme.
Marschall, T. (2013). Nachhaltige Geschäftsstrategie—Das andere Private Banking. Management und Qualität, 7–8, 21–23.
Zeb. (2013). Market flash Switzerland. Retrieved July 13, 2013, http://www.zeb.ch/de/aktuelles/zeb-market-flash.html
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer International Publishing Switzerland
About this chapter
Cite this chapter
Auge-Dickhut, S., Koye, B., Liebetrau, A. (2016). The Zurich Model of Customer-Centricity. In: Customer Value Generation in Banking. Management for Professionals. Springer, Cham. https://doi.org/10.1007/978-3-319-19938-2_10
Download citation
DOI: https://doi.org/10.1007/978-3-319-19938-2_10
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-19937-5
Online ISBN: 978-3-319-19938-2
eBook Packages: Economics and FinanceEconomics and Finance (R0)