As technology continues to proliferate in the world around us, banks are no exception. Digitalisation is revolutionising the way consumers interact with everything – companies such as Amazon, Apple, Airbnb, Netflix and Uber have transformed customer expectations and created a ripple effect across all industries.
In the US, the branch remains the source of banks’ most valuable accounts – as customers with multiple products who want deeper relationships with their bank — but we are also seeing a greater share of global transactions and revenues attributable to digital channels.
It is indisputable that there is a steady uptick in demand for digital services. Digital is impacting virtually every aspect of the consumer banking ecosystem: from selling and customer acquisition to account opening to servicing.
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Source: Banking Technology