More than ever before, banks need to stay relevant, as traditional financial services companies are competing with far nimbler challenger brands that are changing traditional service models and product mixes.
We’ve seen this accelerate, as the world continues to be turned upside down by COVID-19, with banks having to temporarily close retail premises and offices, pushing the majority of customers online. This has exposed a gap in many banks’ digital transformation programmes, which were primarily centred on self-service, rather than replacing face-to-face delivery processes.
