Online accounts: the latest developments of the digital banking
2018 could be decisive for the digital development process of banking services, which will keep focusing on online accounts and digital payments. The goal consists in improving customer loyalty, whose expectations are changing precisely in relation to the latest digital tools.
The scenario is highly competitive: the European Union’s PSD2 directive compares traditional banks to the new IT & Tech companies. Among the two, who will be able to offer the best customer experience will consequently emerge. Let’s see together the news that will take hold in this future, increasingly “hot”, the one of world of banking services.
Many banks are reducing the number of branches: in fact, the most of online account holders does not attend them. The starting point for reversing the trend has been identified in the so-called “omnichannel bank“: 24-hour ATMs, online banking services and videoconferencing will be the channels that will change banks attitude. Banks will offer new digital services in order to satisfy the growing demand for innovation from their customers.
New branch models
A growing trend will be the cohabitation of several banks within a single hub, rather than the creation of different branches for each institution. This will reduce the cost of ownership of the offices and increase the attention of the banks on the customer experience, the real key word for the bank of the future.
Reputation as a decisive factor
For clients it is essential that their bank offers online accounts and digital services. It occurs because people still trust traditional banks, whose reputation remains fundamental in customer relations.
The novelty of open banking
Data will play a fundamental role: through their analysis, banks will have to develop services that customers really want. At the same time, the institutes will open to third parties, providing the data in their possession, with the prior consent of the customers. It consists in a real challenge that puts traditional banks and technology companies in conflicts.
When the bank becomes mobile
Research shows that telephone banking, like m-payment, is currently the least used form: the most of the people interviewed affirmed that they have never used this type of service in a year. On the other hand, almost a third of the interviews confirmed that they used their own tablet or mobile phone every single day to take advantage of the banking services linked to your online account.
Security and interaction
Biometrics (in particular fingerprint and iris recognition technology) is one of the most requested new technologies. At the same time, there is great expectation on the ways in which banks could take advantage of services such as chatbots and social media interacting with their customers: instruments widely used and appreciated by users, for information requests or support.
If you are looking for a bank that is already in the future of banking services, able to offer next-generation online accounts, digital banking services, ease of use and cost transparency, please contact Trustcom Financial.