This 21-page white paper from Gemalto examines the digital transformation taking place in the global banking industry, and sets out a series of strategic recommendations for traditional banks, digital- and mobile-only banks, and technology companies.
Produced in association with Juniper Research, the ‘Digital Transformation in Banking White Paper 2016’ begins with an overview of the ‘Omnichannel Banking Era’ — describing multi-channel and cross-channel strategies as “old news” as vendors slowly adopt strategies to provide seamless, integrated experiences across channels including in-branch, phone, mobile, online and wearables.
Such strategies are being fuelled as the connected world that millennials — defined as those born between the late 1980s and early 200s — have grown up in increases desire and expectation that content and services should be made available online and on-demand, wherever and whenever they are needed.
The report says enterprises, including banks, which fail to meet these expectations risk alienating a demographic which will form an increasingly large proportion of their potential customer base.
It is “essential that the customer’s first digital experience with a bank is positive”, the report says, adding banks which offer a substandard mobile or online experience face the prospect of losing disenchanted customers to the likes of new competitors such as digital-only banks making use of new technologies.
This white paper has been produced and sponsored by Gemalto and has been approved by the NFC World editorial team.
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