February 27, 2019
All banks recognize that winning customer relationships in the future means winning in mobile banking. While the extinction of the branch hysteria is over-hyped, customers are undoubtedly doing more banking on their phones than ever. Eight out of ten Americans now use mobile banking nine days per month, a trend that is echoed across the world and shows no signs of reversing.
Practically every consultant, industry article, and banking conference has been screaming about channel migration for over a decade, and financial institutions have listened. In the rush to digitization, though, banks have abandoned a traditional strength: trusting, personal relationships with their customers. And that’s a problem. An existential one at that.
Banks have primarily pursued digital transformation from thre ...