Digital Ecosystem Banking — Are you ready for the bank of the future ?
Digital Ecosystem Banking — Are you ready for the bank of the future ?
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45 increasingly abstract products — is to innovate , demonstrate relevance , and deliver value on a foundation of trust ,” says Microsoft .
With more than US $ 327bn paid in fines by the 20 largest global banks , for mis-selling financial products since 2012 , Accenture argues that “ the agenda for banks is clear : finding a new relationship model to rebuild trust if they want to secure sustainable growth .” It is important that , while the banking industry has always been adaptable to disruption , the pace has accelerated significantly in the last decade . Or , as Microsoft states :
“ when changes happen quickly , the bigger picture is often overlooked ”.
One strategy both Accenture and Microsoft identity as being a possible way to rebuild trust is ‘ customer-facing ecosystems ’. These multiply customer interactions to transform them into hyper-relevant and personalised experiences , with 88 % of banks believing that ecosystems will be an important way to interact with customers in the future , as well as 89 % seeing customer facing ecosystems as the main driver of future value . “ Banks that offer these integrated , contextualised experiences go beyond
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