IDG Contributor Network: Millennials, P2P payments and FinTechs: what banks should be watching in 2017
A 2016 CapGemini study found that customers believed that their banking experience had improved. They were, in general, happy about the experience they received at their retail banks — a credit to the investment and energy that has been put into transforming front end processes and services. Despite those gains, however, there were two worrying signs. Namely the younger generations — millennials — still scored low on customer experience and gains in customer experience didn’t translate into increased profit.
So what does that mean for retail banks in 2017? There’s still work be done, and 2017 might just be the year to do it. Here’s our take on the three things that retail banks should double down on in the year ahead.
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