Technology is changing the role of bank branches, says IDC

From OnWindows –

“Banks must focus on developing unique face-to-face services in their physical branches to support their mobile and banking channels and build stronger customer relationships, according to a new IDC Financial Insights study.

While bank branches were previously at the centre of a bank’s relationship with its customers, the Branch Transformation in a Digital World report showed that fewer people are visiting physical branches so banks need to ensure that they extract maximum revenue from every visit. To do this, they need to move away from simply facilitating passive transaction processing activities and instead focus on become high-value sales and advisory channels, and build strong customer relationships.”

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Banks Must Act Now to Defeat Non-Bank Competitors

From SAP Banking View –

“Banks around the world received poor customer service marks for the second straight year, but it’s not for lack of trying. Competition is on the rise, and banks are devoting resources to reach new revenue streams, yet financial institutions have been unable to improve their Customer Experience Index (CEI), according to the World Retail Banking Report 2015.”

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Banks gain ground after customers’ confidence hits rock bottom

From Banking Technology –

“The global financial crisis devastated the reputation of the UK banking industry and it is not hard to understand why public trust in banks is at a low ebb. Since 2008, there have been at least five major scandals involving one or more banks operating in the UK.”

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