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Financial services are being redefined as banks and credit unions look to what’s next.
Financial services are being redefined as banks and credit unions look to what’s next. But financial institutions need to do more than react to current trends. How they anticipate and adapt to their customers’ evolving needs will determine their long-term viability.
And consumers’ needs are no doubt changing in a lot of different ways, across all generations—some expected, some surprising. How consumers ‘bank’ continues to shift, but the market is still heavily fragmented. This is both an opportunity and a threat for financial institutions.
The cost of doing more of the same is steep. Banks are losing share as digital-first competitors grow. At the same time, your existing customers are going elsewhere for products or services you could be offering, or offering something better, and you may not even know it.
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