Despite a clear understanding of what most consumers expect, most legacy banking organizations fail to leverage basic data sets to create positive customer experiences. What causes this performance gap? What will it take for banks and credit unions to provide the experiences provided by fintech firms and big tech organizations?
The Biggest Technology Trends That Will Disrupt Banking in 2020
The rapidly changing technology landscape, led by the global rollout of 5G networks, will impact every component of the banking industry. 5G will open the door for exciting use cases and cross-industry collaborations only dreamed of in the past. These new use cases will change business models, provide the platform for innovation, and create the opportunity for monetization.
As banking grows more complex, it is becoming more difficult to deliver seamless customer experiences and consistency across channels. Banks and credit unions are responding by using advanced digital technologies and new business models to build better customer experiences. Here are five of the most important trends that can be expected in 2020.
In an exclusive interview and in a presentation at the Novathon conference, the Apple co-founder discusses his love for technology, his fears about artificial intelligence, and his perspectives on the potential for digital transformation.
Banks and credit unions are beginning to feel the pressure of big tech firms offering services like payments, checking, savings and investment services. The best response is to embrace open banking platform opportunities, leveraging the deep insights available to match (or beat) the new offerings from Google, Facebook, Apple, Uber, Amazon and others.
The management training and executive development programs at most banks and credit unions may be reinforcing the culture and business processes of the past instead of developing leaders for tomorrow. How should training be changed to reflect the needs of digital transformation?