New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

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.

Key Findings

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.

Download the white paper today to find out more:

New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

Temenos achieves Best-in-Class status for Temenos Infinity due to Explainable AI (XAI) technology and micro apps architecture which power hyper-personalized digital customer experiences faster.

Temenos Infinity helps banks connect with a wider ecosystem of financial and non-financial providers to innovate and bring new products to market faster. It is relied upon by 650 financial institutions worldwide, from global tier one banks to digital challengers.

David Albertazzi, Director, Retail Banking & Payments Practice, Aite Group:

“Temenos finished ahead of the competition in this year’s Aite Matrix report, finishing squarely in the middle of the bull’s-eye and demonstrating a strong balance of both vendor strength and product performance. […] The Temenos Infinity platform is both feature-rich and UX strong, has the ability to deliver on seamless end-to-end digital journey through a platform approach that connects legacy and fintech partners, and has a more forward-looking vision on financial wellness tools that enables it to stand out from its peers.”

Download a free copy of Aite’s Matrix Evaluation to learn:

Download The Aite Report

New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

For the past 5 years, Corporate Loan volumes have fluctuated up and down depending on business, economic and geographical cycles. These fluctuations have been within anticipated ranges, that is, until the advent of Covid-19, when exponential divergence from normal patterns is the norm.

The drivers for change discussed in this paper were apparent and gaining urgency prior to the pandemic; however, the global impacts have exacerbated the problems and accelerated the need for change.

New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

Getting a handle on better onboarding is vital to staying at the top of the game – new market leaders are popping up seemingly overnight, due largely in part to their ability to capitalize on what Cornerstone Advisor’s Sam Kilmer refers to as “The Rocket Effect”.

New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

The past five years have seen a great deal of investment dollars flowing towards the wealth management segments in both Thailand and The Philippines.
In Thailand, a number of offshore private banks have opened local representative offices and others have entered into joint ventures with established, local banks as both attempt to steal a share of this new and rapidly growing client segment.
Despite this flurry of activity, interest in Vietnam has remained somewhat muted. For the past ten years, commentators have spoken at length of Vietnam’s future potential as an emerging market for wealth management but despite a backdrop of strong supporting indicators, the wealth market remains one of South East Asia’s most underdeveloped.

Read this article to find out:

The upcoming changes to the Vietnam’s wealth management
The primary drivers for Vietnam’s wealth management service
The key challenges banks will face when launching wealth services and how to overcome them

download report

New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

The Economist Intelligence Unit (EIU), on behalf of Temenos, surveyed over 400 global banking executives on the changes they see taking place in their industry to 2020 and 2025, their organizational response, and the longer-term impact on their strategic development. The report highlights that new technologies such as AI, open APIs and cloud are driving retail banks towards advanced data and analytics. Banks are using these to develop compelling propositions and experiences for their customers while keeping their money and their data safe.

The survey is part of a global research program on retail banking, which includes in-depth interviews with retail banks, fintechs, and regulators from North America, Europe, Africa and the Middle East, Asia-Pacific, Latin America.

In addition to the global EIU report, we have published a Middle East and Africa (MEA) specific report, looking at banks within the region. Key highlights include:

6 in 10 banking executives in Middle East and Africa (MEA) think cash will dip below 5% of retail transactions in the next five years, compared to 48% globally
MEA retail banks believe delaying digitalization poses genuine threats to their business models
Changing customer demands are cited as the highest-impact trend in the near term (35% by 2020), with new technologies predicted to be the most impactful development in the medium term (43% by 2025)
Building a mobile-first greenfield bank is ranked as the top innovation strategy by 37% of MEA banking executives

Find out what The Commercial Bank of Africa, Egyptian National Post Organization (ENPO), and Banque Du Caire amongst others are thinking about digital banking, and where they are directing their innovation strategies and digital investments.

download the mea report

New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

It’s important that every financial institution creates a unique, achievable path to growth, based on its individual culture, technology, and customers. Download the ebook to identify which of four growth stages you are in and how to start your path forward today.

New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

Payment and technology leaders in banks have to navigate through a maze of myriad options keeping in mind their business context, technology landscape and future aspirations.

Through this in-depth paper from Celent, sponsored by Temenos, the reader will be exposed to the wide range of strategic choices in the path to pick the right Cloud strategy and solution. It covers all the key aspects that banks need to carefully consider, highlighting how they differ and what the consequences are to help banks build a more realistic view of their cloud journey.

Download the white paper today to find out more:

New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

Payments across the world are evolving rapidly from a back-office function to a bona fide business for an increasing number of companies, driving revenue growth-led transformation – and one which also delivers increased operational and cost efficiencies.

The numbers are compelling: McKinsey estimates global payments revenues reached close to $1.9 trillion in 2017, and they forecast those numbers will reach roughly $3 trillion in 2022.

While this is a global phenomenon, APAC is leading the charge, dominating global payments revenue in 2017 – accounting for approximately 50% ($945 billion), according to McKinsey.

download whitepaper

New Economist Intelligence Unit Report: Demanding More

Download the Economist Intelligence Unit (EIU) report today for invaluable insights on the future of customer experience as the differentiator in banking.

Download Report

As in other regions that have witnessed similar economic performance, Thailand is now home to a rapidly growing middle class, characterized, as elsewhere, by higher levels of disposable income. Not surprisingly, property developers building luxury condos were among the first to arrive and the luxury brands now on display in the malls of Siam Square were also quick to capitalize on this new customer segment. The wealth management industry however, usually at the forefront of such changing demographics, seems to have been slow to respond.

Initially hampered by high barriers to entry, low levels of financial literacy and rapidly changing regulations, the wealth management industry now seems to be gaining traction in this frontier market but what opportunities exist? What are the hurdles that must be overcome and what are the threats to success?

In our latest report, we put a spotlight on Thailand’s wealth sector in the wake of a changing demographics and growing wealth segment. This article explains:

challenges that banks and wealth managers are facing in an attempt to capture the growing segment.
reasons why banks in Thailand are unable to capture the majority of the wealth.
how banks can grasp the opportunity in the Thai wealth management segment through technological innovation.

download whitepaper

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