Four in five bankers (81%) believe that banks will seek to differentiate on customer experience rather than products.
The Coronavirus pandemic has brought increasing numbers of customers to digital banking, including those previously resistant to it and banks have been forced to adapt as a result.
“Overnight people became digital, when it was supposed to take ten years… It doesn’t matter if you are Gen X or Gen Z—everyone became digital.”Michal Kissos Hertzog, Chief Executive of Pepper
But what are banks’ top strategic priorities when it comes to customer experience? What customer-related technologies are they investing in? What does the surge to digital banking mean for the future of the branch? And what actions are banks taking to keep up with consumer demands for more inclusive and socially conscious banking?
Temenos and the Economist Intelligence Unit have sought the answers to these questions and more in a new report: Demanding More, incorporating data from over 300 global banking executives, half of whom are C-suite.
- Four in five bankers (81%) believe that banks will seek to differentiate on customer experience rather than products.
- Mastering both customer experience (31%) and digital marketing (29%) are ranked as top strategic priorities for the next four years.
- Survey respondents view microfinance for entrepreneurs (34%), accounts for the unbanked (33%) and responsible lending to underbanked populations (32%) as top actions to promote financial inclusion and empowerment.