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A new digital bank needs a new customer service experience

Insights on Business

Banks continue their digital transformation journey to create new business models to satisfy today’s demanding customers. How do banks prepare for this new reality? For Bradesco, a large Brazilian bank, NEXT is the answer. Next is a digital bank, completely disassociated from the Bradesco brand.

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NEW DATA: Relevance Test: Majority Of Consumers Find Bank Web Content Lacking

PYMNTS

Forty-two percent of respondents report using mobile apps as their main source for financial education, and 36 percent report using social media to learn about financial products. Rich media content such as on-demand video, meanwhile, is an appealing tool for accessing relevant, targeted information for nearly half of consumers.

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The growing interest in digital banks

Insights on Business

Recently, new digital technologies – driven by cloud, mobile, social media and analytics – have significantly lowered entry barriers and put customers much more at the center of the banking relationship. There are interesting characteristics both in the new entrants and in the more established digital banks.

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New Study: Static Web Content Bad For Account Holder Engagement

PYMNTS

Researchers found that FIs offering “innovative options such as interactive and contextually relevant video content stand to improve engagement and customer experience, especially among younger generations like bridge millennials and millennials.”.

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Mobile Cards Key To Winning Bank Accounts

PYMNTS

Banks and legacy financial institutions (FIs) might be wise to study what disruptive technologies recently did to the print publishing industry, taxi cabs, network TV, and a host of other businesses that were disintermediated with little to no warning in recent years. And in surveys at least, they don’t exhibit much loyalty to FIs.

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Mobile Banking and Millennials – Will the Love Last?

PYMNTS

A lot of fuss is made over millennials and their proclivities toward things being easy. So, when it comes to something like digital banking , it’s not so much about finding what’s easy as it is about finding what service best meets millennials’ needs. Millennials to big banks: No thanks ….

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Why bank branches—and human contact—are not going away any time soon

Accenture

Given that this trend is coinciding in with an ongoing shift by younger consumers towards more innovative channels—the likes of wearables, social media and instant messaging—it’s possible that the continued strong usage of branches is a transitory effect. Figure 5: Would you be interested in using the following banking models?[5].