Banking's future is shaping up to be dramatically different — in as few
as three years. According to a survey of financial institution leaders
worldwide, customer experience improvements, competitive changes, and an
accelerated flight to digital channels, along with several surprising
additional factors, will massively transform the industry.
By Jim Marous The Financial Brand , CEO
The pace of change in banking is already startling. Financial
institutions are working overtime to leverage digital transformation for
increased efficiencies, improved experiences and revised business
models. But what do banking leaders from around the world believe will
happen by 2025 … only three short years from now?
To answer questions around the speed of digital banking transformation, the Digital Banking Report
The research focused on nine perspectives — shown in the first chart, below — within four areas of banking:
Customer experience The flight to digital Competition Innovation
As in any survey on the future of banking, all projections need to be
taken within the context that change is happening faster than most
financial services executives have ever seen. With that in mind, the
projected speed of adoption of some developments (e.g. use of data to
provide personalized experiences) can’t be ignored. The question becomes
whether banks and credit unions will be prepared for the rapid changes
they predict.
To read the complete report CLICK HERE
Banking is Changing Faster Than Ever
Customer Experience is Being Transformed
Flight to Digital Channels Escalates
Competitive Landscape Continues to Evolve
Innovation Provides Differentiation Opportunity
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