Digital experiences are transforming the way customers interact with their banks, and with consumers demanding more personalized experiences, digital banking leaders must go beyond simply developing a “digital strategy” to increase customer retention and drive revenue growth.
In a new report, Forrester examines the shifting priorities of digital business strategy executives at North American retail banks in 2016. Key highlights from the report include:
- Security. Digital teams will come under increasing scrutiny from regulators and consumers to ensure that digital touchpoints are protected. Because of this, biometrics will become an intrinsic part of everyday financial service.
- Mobile. Digital teams at retail banks need to make use of mobile image capture beyond check deposits and bill payments and explore how location services can add value for their customers.
- Data-driven. Digital teams at retail banks should infuse insights from data into their digital experiences to provide personalized, relevant, preapproved financial product offers as well as to deliver spending-related offers through digital wallets.
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