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.
While every other age segment is online in large numbers, seniors are the last adopters in digital banking. Only 18% of seniors choose to use mobile banking services. Why is this? While age-related attitudes are partly to blame, banks can encourage seniors to adopt digital tools and re-engage with this important customer segment.
It’s time to align with customer values, not the bottom line. But transforming the customer experience is a huge commitment for a bank. How can we estimate the economic benefits of a satisfied customer?