This round up of digital banks from around the world lists pioneers that are redefining the banking industry by connecting with a new generation of mobile-first consumers.
With consumer expectations increasing, the use of artificial intelligence, machine learning and chatbots in banking is also increasing. Banks and credit unions worldwide have been intently curious how their peers are testing new applications and deploying new solutions to improve the overall digital customer experience.
Apparently nothing can stop Amazon — not even banking regulators or geographic borders. With patents, patience, a willingness to fail, a huge and devoted customer base, a universe of data, and gobs of money, Amazon continues to present a real threat to the traditional banking industry.
Digital transformation is about more than just providing online and mobile functionality. Traditional banking providers are finding out they need to combine digital speed and convenience with human interactions that are both thoughtful and caring — particularly at crucial moments in the customer journey.
The scope and speed of evolution in regulation, customer behavior and technology – coupled with the emergence of new competitors – mean that the future of banking will not be a continuation of the past. New technologies will transform banking as we know it, providing institutions with both opportunities and on-going challenges.
Banks and credit unions around the world want to know what they need to offer and how they can deliver financial services that meet the expectations of a younger generation. How can banking organizations remain relevant in the future before they are replaced by fintech or ‘big tech’ alternatives?
Here is an analysis of what experts in the financial industry believe banks and credit unions need to do immediately to benefit from major digital technology trends.
Amazon may be the best customer experience organization in the world, reflected in the superior growth in sales and revenues. Here’s what the banking industry can learn from Amazon about improving their own customer experience.
In an omnichannel world, financial consumers determine what should happen at every touchpoint in the experience. Just because the journey doesn’t start and end digitally doesn’t mean that ‘digital isn’t working.’
Will the future of retail branches be dominated by Amazon-style self-service digital technologies? Or will banks delivering a phenomenal experience like Starbucks win the war?