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"These strategies are very effective at reducing costs," says McLaughlin; and over the past three years, Royal Bank has done just that, reducing its cost of acquiring $1 dollar in revenue from 63 to 55 cents. "So even if you don't manage to get the revenue up," says McLaughlin, "getting the costs down is a pretty effective survival technique...
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It's change management. It's strategy. If you view it as a project or a piece of technology, then it becomes just a place to spend money and not get results. So it's all in your attitude and how comprehensively you approach it.'"
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Royal Bank of Canada (RBC)
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