Today, customers are immersing themselves in the digital world and the information, convenience, mobility, and personalisation it provides.
Consumers have embraced online and mobile innovations to empower themselves and enrich their choices, whether they’re shopping for a car, looking for a dentist, or searching for a restaurant. When consumers are managing their money, they expect the same enhanced experience.
They want their digital banking needs met with fast and seamless products and services that are always available, reliable and secure. While banks are balancing speed and security to meet these needs, consumers want more. They understand how rapidly technology changes, and they see the potential it offers. They leverage the vast amount of available information to find the best deals on everything. Gone are the days when a customer needed to contact a set of banks to compare interest rates or even visit a branch to deposit a cheque.
At the same time, demographics are shifting. By 2020, not even six years away, the majority of consumers will be tech-savvy “digital natives,” who grew up online and on their smartphones.
Banks need to stay up-to-date with digital challenges. Here’s why.