© Copyright Acquisition International 2026 - All Rights Reserved.

Article Image - Banking Industry Should Learn from Telecoms Sector in Approach to Product Sales
Posted 12th December 2016

Banking Industry Should Learn from Telecoms Sector in Approach to Product Sales

Specialist management consultancy Baringa Partners responds to the news that HSBC has closed 200 branches this year.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Banking Industry Should Learn from Telecoms Sector in Approach to Product Sales
Image

Specialist management consultancy Baringa Partners responds to the news that HSBC has closed 200 branches this year.

Emily Farrimond, Director, Baringa Partners says: “The news that HSBC – who historically placed a strong emphasis on its local branch presence – has closed over 200 branches this year is just the latest in a series of branch closures across the industry as banks react to changes in customer behaviour and the need to reduce operating costs. However, ongoing closures is not sustainable and a new approach to product sales is needed. The banking industry should learn from the telecoms sector and create ‘The BankStore’, the Carphone Warehouse of banking.

“The BankStore would allow customers to compare the prices of retail banking products from a range of providers under one roof. Sales assistants would be able to provide independent advice on a range of products and customers would then be able to buy from any provider. If customers then want to purchase additional products from a different provider, they wouldn’t have to provide any further information as it would all be registered with The BankStore.

“As well as increasing competition in the banking industry, a key focus for the regulator, The BankStore would also support vulnerable customers who do not have access to digital channels or do not feel comfortable using them. The question is, will banks take the lead or will a new challenger step up to the plate?”

Categories: Finance


You Might Also Like
Read Full PostRead - Eye Icon
Economic Signals To Consider When Trading Forex In The Final Months Of 2022
Finance
11/10/2022Economic Signals To Consider When Trading Forex In The Final Months Of 2022

It’s a mantra that seems almost as old as time itself, but the ‘be fearful when others are greedy, and greedy when others are fearful’ strategy of Warren Buffett has served him well in more than five decades as an investor.

Read Full PostRead - Eye Icon
Navigating Regulatory Divergence in Cross-Border Retirement Plan Integration
Finance
29/07/2025Navigating Regulatory Divergence in Cross-Border Retirement Plan Integration

When companies grow internationally or merge with foreign entities, aligning retirement plans becomes a high-stakes challenge. Each country has its own tax codes, eligibility rules, vesting timelines and reporting requirements, which makes it challenging to cr

Read Full PostRead - Eye Icon
The Power of Now: Unleashing Success through Direct Response Marketing
News
06/08/2024The Power of Now: Unleashing Success through Direct Response Marketing

When instant gratification became the order of the day, direct response marketing emerged as one of the most heavy-duty strategies businesses can adopt. It entails immediate action on the consumers’ part and thus has the possibility of enhanced engagemen

Read Full PostRead - Eye Icon
Kulicke & Soffa Acquisition of Assembléon
Finance
26/03/2015Kulicke & Soffa Acquisition of Assembléon

Kulicke & Soffa announced their acquisition of Assemblion. The all-cash transaction, valued at approximately $98 million, closed on January 9, 2015.

Read Full PostRead - Eye Icon
A Notary for Your Diary – The Seal of Approval That Every Business Needs
Legal
22/01/2015A Notary for Your Diary – The Seal of Approval That Every Business Needs

With only 800 in the country, finding and accessing a Notary Public for England and Wales can take up valuable time and resources.

Read Full PostRead - Eye Icon
Suing a Hospital for Malpractice: A Guide
News
29/08/2023Suing a Hospital for Malpractice: A Guide

A core principle of any kind of medical practice is to safeguard patient well-being. Sadly, it’s not rare to find instances of medical malpractice and negligence. When medical care falls short of accepted standards in any way, the patient has the right t

Read Full PostRead - Eye Icon
How Professionals Are Entering and Advancing in the Legal Field
Legal
30/04/2026How Professionals Are Entering and Advancing in the Legal Field

Image Source Aspiring lawyers enter the legal field with a clear understanding that success requires more than earning a degree. Law school provides structure, yet meaningful progress depends on preparation, focus, and long-term planning. Students who approach

Read Full PostRead - Eye Icon
Legal Steps Businesses Should Take After a Truck Accident
Legal
10/07/2026Legal Steps Businesses Should Take After a Truck Accident

Toledo’s busy road network keeps businesses connected to suppliers, customers, and distribution centers throughout northwest Ohio and beyond. Every day, delivery trucks play a key role in keeping those operations moving. Most companies don’t build

Read Full PostRead - Eye Icon
Gide Advises Canglong Optoelectronicon the Acquisition of a French high-tech Company
Finance
16/02/2016Gide Advises Canglong Optoelectronicon the Acquisition of a French high-tech Company

Gide has advised Dalian Canglong Optoelectronic Technology Co., Ltd., on its acquisition of 70% of the equity interests in French high-tech company Almae Technologies SAS.



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow