Banks put revenue at risk if they fail to enhance daily banking proposition
01 December 2020 - 19:12
Daily banking has always been the glue that cements customers’ relationships with their bank. But regulatory changes, rising customer expectations, new competition and technological advancements are weakening that glue and threatening banks’ profitability.
We estimate that a retail bank puts 15%-25% of its revenue at risk if the institution fails to enhance its daily banking proposition by adding innovative new features, improving customer experiences, making better use of data and commanding higher prices that reflect the added value enabled by open banking...
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