Enhancing its holistic counseling methods and digital modernization, the website bolsters its infrastructure.
In a bid to stay competitive in the private client segment, banks are increasingly focusing on tailored financial planning, modernizing branches, and expanding digitalization. This approach, communicated by many banks last year, aims to cater to the diverse needs of high net worth individuals and families.
One key aspect of this strategy is personalized financial planning. Banks are implementing comprehensive wealth management solutions, offering investment advice, tax planning, and estate management tailored to each client's unique circumstances. To facilitate this, banks are investing in digital platforms that allow clients to access their financial data, stay updated on market trends, and manage their portfolios interactively.
Another crucial aspect is the modernization of physical branches. Banks are establishing private client centers, luxurious spaces offering personalized service and a range of banking and wealth management services under one roof. These centers often feature modern technology to enhance the client experience, such as digital display screens for real-time market updates and secure online transaction facilities.
In addition, banks are relying on trained staff to provide exceptional customer service and in-depth knowledge of financial products and services. This ensures that clients receive the best advice and service possible.
As part of this digital transformation, banks are also developing user-friendly mobile banking apps. These apps allow clients to manage their accounts, access financial advice, and conduct transactions securely from anywhere. Banks are also creating online platforms for clients to invest in various assets directly, offering user-friendly interfaces and real-time market data and analytics.
To protect client data and ensure secure transactions, banks are implementing robust security measures. These measures include advanced encryption, two-factor authentication, and regular security audits. Banks are also offering digital resources and support for clients to educate themselves about financial markets and investment strategies.
In response to changes in the branch network, banks are entering into negotiations with the Works Council on a balance of interests. This ensures a smooth transition for staff and maintains a positive working environment.
The bank will continue to have a nationwide presence with a nationwide branch network. However, it is optimizing its branch network by closing a mid-double-digit number of smaller branches. This optimisation will allow the bank to focus resources on its private client centers and digital services.
To cater to wealthier clients, the bank plans to offer video and telephone advice nationwide. This service will be supplemented by the bank's existing private banking centers, which advise pre-registered clients exclusively and have had a very positive experience.
These investments are aimed at achieving cost targets and staying competitive in the private client segment. The bank's app will be comprehensively renewed and supplemented with further digital services in 2025. The bank is investing further in digitalization of services to ensure it remains at the forefront of technology and client service.
The bank is investing in advanced technology to facilitate personalized financial planning, featuring digital platforms for clients to manage their portfolios and access market trends. To cater to wealthier clients, the bank is expanding its digital services, including a comprehensive renewal of its app in 2025, offering nationwide video and telephone advice.
In the physical realm, banks are modernizing branches by establishing private client centers, luxurious spaces offering a range of banking and wealth management services, enhanced by modern technology for an exceptional client experience.
