Banks are being forced to rethink their raison d'être these days. It’s no longer enough to exist for the sole purpose of turning a profit. With a powerful purpose, banks can reconnect with the community they serve and rediscover the very human side of banking – and do well. Find out more on the benefits of pursuing a customer-centric purpose.
A great customer experience is a balancing act between the independent, savvy consumer who expects self-service on every device and the innately social human being who derives value from seeing and interacting with one another. How do we balance the convenience of digital with the need for human interaction?
Digitally nimble fin-techs will attract 30% of traditional corporate banking revenue over the next five years. That daunting estimate behooves corporate banking to get moving with transitioning over to omnichannel. It’s a complicated transition, but there are tools and technology that can boost profit and help traditional corporate banks hold on to market share.
The customers have spoken – and in their mind, banks are all the same, focused on transactions, not relationships. Then there’s fintech and new regulations that are re-shaping the market landscape. These unstoppable market forces combined with customers’ dire indictment of the industry should be a rousing wake-up call to improve the customer experience before someone else does.