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Customer Experience as a Competitive Advantage: How FinTech Startups Forever Changed User Attitudes in Banking

The evolution of the customer service in traditional banking was very slow during the past few decades. One of the milestones in that matter was probably the invention of the ATM in 1967 for the automation of bank-teller operations. Then the customer support in branches started to migrate to telephone banking, followed by the smartphone era that changed the approach of banks in dealing with customers.

Mobile technologies have significantly affected the financial services industry, forcing institutional players to tailor their businesses to survive in the mobile-first environment. Nowadays, the progress of customer service and the speed of its change are very fast. In fact, Forrester predicts that in 2017, 108 million customers in the United States alone will be using mobile banking.

Innovation in customer service ...

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