now interact with banks 15-20 times per month, up 3-4 times in the
pre-digital era." - NETFINANCE
Financial institutions need to start rethinking how they interact with their consumers. Today's Financial Institutions face a breadth of consumer demands, competitive threats and security and fraud risks. While it's easy for financial institutions to overlook consumers' user experiences in favor of security, the fact is that consumers are seeking richer, more gratifying digital banking experiences, and they will go to the competitor that offers both simplicity and security.
"An average company hears from less than 5% of its unhappy customers." - RUBY NEWELL-LEGNERT
Acquiring and retaining consumers in a fiercely competitive marketplace flooded with waves of non-traditional players - requires a consumer-centric digital strategy. The key enabler for an effective digital strategy is trusted identity. With a single trusted identity, consumers can move freely between banking channels and access online services, mobile apps and bring efficiency to ATM, self-service, and in-branch experiences.
Digital banking is nothing new - online banking has been around
the late 1980s, and even mobile banking is more than 15 years old. The real
frontier is interconnecting these digital channels with the modern branch
location to create a seamless omni-channel consumer experience - empowering both retail and commercial banking customers with the choice of transacting whenever and wherever they find it most convenient.