The Zurich Model of Customer-Centricity

Abstract

The Zurich Model provides the economic orientation framework for the further development of the business models of banks. It is the analytical framework for deriving the perfectly tailored consequences of the influencing factors outlined in this book, for every single bank. In the digital age, the fundamentals of successful banking business models have changed drastically, as the knowledge advantage of the banks over customers has eroded and the entry barriers for new market participants are sinking. The informed customer is putting pressure on margins. In addition, the regulatory pressure on the banks as a result of the global financial and debt crisis and growing global transparency is intensifying the situation and increasing the pressure to change. The danger is that banks might wish to shape the future using their existing thought patterns, and thus fall into thought traps. And there is the further danger of being undermined by companies whose business models are based on new thought patterns.