Smaller Banks Risk Losing Digital Customers
Will customers leave their primary financial institution for a better digital banking experience. Craig McLauglin, the CEO at Finalytics, says it could happen.
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FEATURING: Craig McLaughlin, CEO at Finalytics.ai and Extractable
According to a recent Harris Poll, 40% of respondents said they are likely to leave their primary financial institution for digital banking that compares to an online shopping experience.
New benchmarks have been set as to what is acceptable regarding digital experiences at financial institutions. While consumers still want to bank with community institutions, these smaller firms must accelerate digital transformation efforts to avoid disintermediation to larger banks or big tech organizations.
We are joined on the Banking Transformed podcast by Craig McLaughlin, CEO at Finalytics.ai and Extractable. He discusses the results of the Harris research and provides insights into how smaller organizations must respond to the digital experience challenge.
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About the Banking Transformed Podcast
In each Banking Transformed podcast, host Jim Marous has candid conversations with the world’s foremost leaders on what it takes to transform financial institutions during an age of digital disruption. His guests discuss technology, channels, innovation, customer experience, leadership, culture and competitive forces that are changing the banking industry faster than ever before.
Named as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the Digital Banking Report. The Digital Banking Report is a subscription-based publication that provides deep insights into the digitization of banking, with over 150 reports in the digital archive available to subscribers.
Named as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the As a sought after keynote speaker, author and recognized authority on disruption in the financial services industry, Marous has been featured by CNBC and CNN, Cheddar, The Wall Street Journal, New York Times, The Financial Times, The Economist, The American Banker and has spoken to audiences worldwide. Jim has also advised the White House on banking policy.
