Retail banking is currently at a disadvantage when it comes to offering true omnichannel experiences. This is according to the Retail Banking Report 2022 , published this week by Capgemini and Efma , which indicates that customers are leaning towards entities that offer more personalized experiences.the research are attracted by the cost- switzerland number data effective and continuous services of FinTechs, which have come to change the paradigm. They offer fast, easy-to-use products and experiences that are immediately available, as well as having a low cost.
The report also notes that nearly half of respondents feel their current banking relationships are neither rewarding (49%) nor emotionally connecting (48%) . 52% say dealing with banking-related issues is not enjoyable.
For their part, traditional banks continue to struggle to meet those customer expectations: 70% of banking executives are concerned about not having sufficient data analytics capabilities . Even more, 95% of the world’s top banking executives say legacy systems and banking platforms are outdated and inhibit efforts to optimize data and customer-centric growth strategies.