Digitisation to meet customer expectations
The adoption of digital within Retail Banking is accelerating. Banks that fail to keep up with the pace of change are destined to fall behind as new, digital native players change the market and attract growing numbers of customers.
The traditional approach to customer segmentation – based on demographics, territories, lifestyles and consumption habits – is losing relevance. The digital customer is a market segment of one. This customer expects a higher quality of experience from banks and insurers.
New, bold and creative digital ventures have redefined customer experience. Choice, immediacy, value, and high levels of personal service, available through any channel at any time are now the minimum expectation.
Retail Banking needs to learn a new language. Banks are now looking to re-engineer the entire front and back office estate to create a platform for innovation-at-speed, enabling frictionless, real time processing of data and transactions in a secure environment,
How we help our clients
- We helped a leading Spanish bank to develop an innovative and secure service for customers wanting to make mobile payments.
- We created a real-time smartphone banking solution for a major French bank.
- We partnered with NS&I, the UK’s largest savings institution, to completely transform its business, including moving from a single sales channel (Post Offices) to online and telephone. As a result, internet sales went from zero per annum in 2003 to £5.11 billion in 2011-12.