The retail banking adverse selection: RCBS calculator solution

Abstract

The paper is focused on the field of retail core banking services market (RCBS) in the Czech Republic. The surveys of the European Union repeatedly identified fundamental market imperfection - the asymmetry of information. The specific manifestations of this problem are clients' high costs on search or the market overview, tariff opacity, product-tying and lack of comparison tools. At the end of the 2010 there was launched the web-accessible system of RCBS calculator that help the client to get the market overview individually adjusted to his or hers RCBS usage profile. The paper uses the BPM to introduce the system's data acquisition module that is a key part of process. The rest of the paper shows the possibility how to employ the data acquired during the process to even more help to reduce the costs on search for the optimal product according the price and range of the demanded services. © 2013 Springer Science+Business Media.