I would like to wish everyone a better 2009 given that this is the penultimate day of the year.
I will hold off from writing about the past 12 months because I am still with my current employer and a review would be seen as a self-serving, and potentially career jeopardizing, evaluation. Instead, I will provide a peek into the plans for 2009.
The concentration would be in increasing the involvement of the managed banks' branches in solicitations of billers and merchants, the expansion of bank delivery services to include BN solutions and the commitment of managed bank management to increase use of electronic channels, especially the POS.
The financial crisis has forced our member banks to revert to the basics of banking: deposit-taking and payments handling. They have also lessened their dependence on exotic financial instruments, many of which caused the crisis in the first place.
Average deposit balance or ADB is the primary measure of success now with banks having to decide which segment of this vast market to target: the unbanked, the promising, the ATM-as-wallet users, and the wealthy. Banks need to grow their deposit levels at least 5% to compete meaningfully in the new reality.
It is our sincerest hope that this new focus on the individual cardholders pays off for member banks for a truly prosperous New Year.
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