Summary of The Art of Better Retail Banking

Hugh Croxford, Frank Abramson and Alex Jablonowski

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The Art of Better Retail Banking book summary

Rating

7 Overall

6 Applicability

7 Innovation

7 Style

Recommendation

What could be unique about a bank? After all, every bank offers various loans and accounts. In this tome for bankers, banking experts Hugh Croxford, Frank Abramson and Alex Jablonowski contend that banks have made a mistake by becoming too much alike, offering indistinguishable products and services. They argue that banks – that is, bankers – should innovate and create solutions that simplify their clients’ lives. This U.K.-oriented study is intriguing to a point, but it would have benefited from more specific case studies of successes and failures. This book predates the banking meltdown, so events have overtaken a few of its suggestions. Still, getAbstract recommends it to bankers who seek a critical, customer-oriented view of their industry.

In this summary, you will learn

Why science and engineering have trumped art in banking; and
Why the art of banking must move to the fore for the sake of the industry and its customers.

About the Authors

Following his career in banking, Hugh Croxford now consults for banks and IT companies. Frank Abramson is CEO of the Relationship Consulting Group and a director at Intramezzo, Verdandi and M-I-G. Alex Jablonowski was CEO of a London-based bank and a managing director at Barclays.

Summary

Banking: Part Science, Part Art
From clearing checks to balancing accounts, bankers spend much of their time on the “science” and “engineering” of financial services. Many bank employees must focus full-time on the operational, procedural and regulatory rules underlying their core business...