Some of the banks offer integrated solutions to meet their customers financial and business needs under one roof. Few of the bank claims to be the best among private bank with strong advisory team and past data reveals their product and brand valuation.
In recent years, private banks are able to provide their personal finance and relationship management services internationally thru the medium of internet and mobile banking. Modern research says that numbers of high net worth individuals are sinking in developed countries like Europe whereas number of billionaires and millionaires are growing at the faster rate in Asia. Technology of online banking has ensured banking services to customers without exclusive branches. Due to technology this shift of money flow between countries is no more barriers to banks that have gain a good brand valuation in private banking sector.
Private banks have to put great efforts for lead generation via wholesale banking or tie ups with corporate or retail banking or other revenue sharing module for attracting new customers. Whereas good branded private banks doesn’t have to rely heavily on banking networks. They are mostly relied on client referrals. A referral to friends or family members are the primary source of lead generation for branded banks since they provide exclusive services and support to retain their client confidence.