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Financial Services
Firms need to harness technology
and keep innovating to retain
the loyalty of customers and
prevent reputational damage to
their brand.
The availability of mobile
applications and online
experiences is increasingly
important to customers. They
want to access their accounts
through mobile and connected
devices and to pay for goods
with a tap on their wearables.
Furthermore, over half of
consumers would switch to a
competitor if their digital
experience does not live up to
expectations.
Given the direction of travel in
the industry, financial
institutions (FIs) need to have
a clear roadmap for technology
and innovation. It is not enough
to simply devise a digital
strategy; instead, financial
services firms need to have a
business strategy focused on
thriving in a fully digital
world.
