Financial Institutions Unprepared For Digital Future

“According to a Bain & Company report entitled, ‘Building the Retail Bank of the Future,’ more than half of the 78 global financial institutions benchmarked lag substantially in the ability to create the ‘bank of the future’ experience that customers already expect – integrated, on demand, real-time banking services via a combination of digital and physical assets.

Bain found that while many banks have focused their digital investments on digitizing transactions that reduce brick and mortar cost, less has been done to make consumers’ banking experience more convenient, easy and engaging through a seamless integration of channels.  While consumers have definitely appreciated digital innovations such as remote deposit capture, remote bill pay and other simplified transactions delivered through a mobile app, winning the digital consumer in the future will require more.”

 

Full Story (The Financial Brand) 

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