The Impact of Virtual Channels in the Distribution of Banking and Financial Products

Abstract

Over the years, banks too have taken advantage of the opportunities coming from technological progress. Aside from statistical data, the computer revolution has had a profound effect on the banking methods, affects competitiveness and is carefully followed by the supervisory authorities. If suitably planned and carefully implemented, the multi-channel distribution strategy becomes a distinguishing factor when complementary forms of are created between the various channels and an increasingly demanding client’s needs for assistance and consultancy are also met, who may then enjoy all the advantages – in terms of cost, time and quality – of a virtual service without having to renounce the traditional physical relationship with the bank. In this way, the multi-channel bank's competitive capacity does not only depend on the structure of the Internet offer, but also on the capacity to integrate such an offer structure with a full portfolio of the bank's activities and distribution solutions, appropriately executing technological, organisational and commercial integration.