- How has technology changed and how has this affected the retail banking space?
- In a changing banking landscape, what are the hidden opportunities in re-thinking banking apps and customer service design?
- What can traditional banks learn from the success of neo banks?
- How can banks leverage modern technology to create a seamless customer experience?
Consumer Duty came into force for on-sale products and services on 31 July 2023, and the implementation deadline for closed products and services on 31 July 2024 is just around the corner. In an era where both legislative duty and consumer expectations are more complex than ever before, creating a seamless banking app experience is crucial to a bank’s success.
Neo banks are leading the charge in designing customer friendly apps, with Forrester research confirming that challenger banks are now consistently outperforming traditional banks on customer experience. Mobile banking has become one of the primary ways that people both bank and do business, hyper personalisation and segmentation are essential, and regulatory changes are incoming. Traditional banks are facing the challenge of having to re-think their designs in a changing banking landscape.
Whilst consumer duty may be perceived to present challenges, there also lie opportunities. Leveraging modern technology and AI to design a seamless banking app experience will allow banks to not only be compliant with consumer duty principles, but to truly serve their customer base plus deliver enhanced operational efficiency.
Register for this Finextra webinar, hosted in association with NTT DATA, to join our panel of industry experts who will discuss the changing landscape of mobile banking and how FIs can optimise their app experience.