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Banks should follow in the footsteps of other innovative consumer-focused industries to deliver an omnichannel banking experience that is relationship-focused, interactive, relevant and personal.
Never has technology accelerated changes in consumer behaviour so quickly that whatever is cutting-edge today becomes tomorrow’s status quo. And, consumers’ expectations of digital services and platforms change even more rapidly.
For example, consumers are no longer completely satisfied with having content available digitally and on demand; they want personalised suggestions specifically tailored for them. And why shouldn’t they? They expect the same from their social media platforms, where personalised ads are as familiar now as they were once disconcerting.
In fact, today’s mobile-first society enables personalisation on a scale never seen before, which has transformed consumer habits – from how they spend their free time to how they plan vacations, where and when they shop, and even how they manage their homes.