Like many industries, banking is under pressure from digital disruption and from digital disruptors (often referred to as 'fintechs').
From the 2017 state of Strategic Digital Banking report:
- According to Gartner and IDC, by 2018, banks and financial institutions’ clients will access and contact their banks mainly through mobile devices
- Banks and financial institutions CIOs’ main concern to 2017 and beyond is what will be done with their companies’ branches
- According to the 2016 MX Consumer Survey, clients find it more important to have an easy digital banking experience (67 percent) rather than a friendly teller or staff (33 percent) when choosing where to open an account
- According to the 2016 MX Consumer Survey, banks and financial Institutions clients are now more likely to access their banks in a more impersonal way, and only 19 percent use a personal method (branch or call center)