March 11, 2020 Banking magazines Banking NY (Jan/Feb 2020), Banking Mid-Atlantic States (Issue 1 2020), and Banking New England (3/11/20) have published Clarity President Nick Miller’s article, Digital Technology Trends in Banking 2020-2025. Miller points to three trends that will be prominent in the banking industry:
- Digital transformation, including digital marketing, payments, analytics, voice recognition, and conversational computers. Banks are behind in their deployment of these technologies. They need to think bigger, faster.
- Brand specialization, identifying and developing one or more types of expertise of signature specialties to differentiate and attract and retain customers who generate additional revenue. The most important question with this trend is strategic.
- Partnerships – partnering with and thinking and acting more like the technology companies that have defined customer experience outside of banking.
See the full article here.
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