“Competition between banks is fiercer than ever and success is now strongly correlated with three key factors: customer engagement, responsiveness and transparency. The retail banking industry is on a mission to modernise and get closer to its customers, aiming to position themselves as fairer, more secure and efficient, with the customer at the centre of their operations. With this objective to transform the customer experience, one would naturally expect the banking industry to focus their attentions on improving their main touchpoints with account holders. Despite efforts in other areas however, retail bank branch operations remain largely unreformed, with a surprising dependence on paper processing. This article will explore the digital strategies banks need to consider in order to modernise their branch operations and transform their customers’ experience.”
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