Showing posts with label retail banking. Show all posts
Showing posts with label retail banking. Show all posts

Monday 15 February 2021

It's not the technology - Why banking is broken -Ewan Silver - 11:FS

When people discuss 'banking being broken', they often refer to the technology itself. As Ewan Silver says - that isn't necessarily the case. 

The fundamental flaw within banking at the moment is the way that banking products are treated within the organization. A customer can get a retail bank account, a credit card, and a mortgage from one bank. 

They would expect this to be a seamless process, as it looks like one entity - but from the bank's perspective, these are three different businesses entirely. 

The banks have no single-view of a customer. This was OK for a while. All banks worked in this way, so there wasn't exactly a high bar set for them, 

But now, with challenger banks offering realtime payments and notifications, and GDPR regulations enforcing banks to enforce KYC across entire organisations, the banks NEED a single customer view. 

And they can't seem to get there easily. So what are the potential solutions? Ewan explains it all.

Thursday 7 January 2016

The Digital Evolution of Checking Accounts


From Bank Director -

“Dave DeFazio of StrategyCorps explains how banks are changing their checking account offerings to address shifting consumer expectations.”

Tuesday 10 November 2015

5 Critical Big Data Capabilities Financial Marketers Must Master


From The Financial Brand -

“Big data promises to revolutionize the consumer banking experience — everything from marketing and sales, to service and security. But financial institutions will need new skills and strategies, and a mobile-first mindset.”

Read more>>

Thursday 1 October 2015

Evolving to survive: how technology can bring retail banks closer to their customers


From International Banker –

“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.”

Read more>>





 
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