Simon is majoring in Industrial Engineering at the FAU Erlangen-Nürnberg in Germany. His master thesis is part of a research project at the Chair of Industrial Management about the future of retail
banking in Germany.
His research focuses on recent developments and changes in the context of the digitalization in retail banking. The banking industry is facing serious challenges concerning new competitors, a vast variety of new online and app based banking services, enabled by digital technology as well as a difficult financial environment in general. Providing excellent products and innovative services, meeting customers’ demands and desires is essential to compete successfully. Through expert interviews and exhaustive literature analysis he developed a holistic set of recent and potential attributes of banking products.
Simon is using Choice Based Conjoint analysis to examine customers’ preference for actual and potential attributes of banking products and if they are willing to pay for them. The results will give indications on key features and provide information about expectations and possible innovations for future banking services.