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It’s all over the news. Around the world, banks are closing branches and more plan to follow suit. Their reasoning? “Digital is taking over”. However, this presents its own set of challenges. How do banks address them so that they reduce their number of branches, while still delivering compelling service offerings?
This isn’t a recent phenomenon. According to research conducted last year by Nottingham University, the UK’s branch…Continue
“May I have your data?”
”Depends on who’s asking!”
Banks need data from customers to provide them with a differentiated service. They won’t get very far though, until they establish themselves as responsible and trustworthy in customers’ eyes.
While these individuals are willing to share information for a real benefit—providing historical transaction details to an account for financial planning or tax efficiency analysis, for example—they are less likely to provide…Continue
The leaders in mobile wallet technology? Undoubtedly retailers. Starbucks and McDonald’s are already building these wallets in response to customer demand. But with mobile wallet use predicted to rise in 2014, should banks or mobile operators—who are better positioned to offer levels of security customers expect—be building them instead?
The challenge is that the business case for building a mobile wallet shows little direct financial benefit on its own to a bank or MNO (mobile…Continue