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Retail banks can no longer afford tech mistakes

Bobsguide

Incumbent retail banks who have not yet developed a progressive digital strategy face significant cost pressures in the coming years, according to industry panellists in an online event today. “Look at Facebook, Google, Amazon and so on who have been constantly updating.

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Retailers Rethink Store Concepts, Digital Strategies Amid New Realities

PYMNTS

Traditional retail locations, ranging from fashion and home furnishings to hardware and department stores, have been forced to make significant changes in the face of heightened competition from eCommerce giants like Amazon and omnichannel powerhouses, like Walmart and its online unit, Jet.com.

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Florida Retail Reopening Fails To Draw Consumers

PYMNTS

Retail reopening events continued to draw light foot traffic on Monday, as Florida joined Texas in allowing non-essential stores to reopen. Meanwhile the digital shift momentum continues to draw new infrastructure. Infrastructure providers are hustling to keep up with the digital shift. percent from 35.5

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Test And Measure: How To Capture The Retail Digital Shift

PYMNTS

The digital shift, to paraphrase Gil Scott-Heron , will not be televised – but it will be measured. Retailers and direct-to-consumer (D2C) brands that are now seeing their eCommerce sales take flight would be remiss to ignore the data being generated by the digital shift and the potential marketing opportunities.

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Mastercard’s Vosburg Sees Consumer Spending Changes

PYMNTS

But he noted that “while this is a very dramatic short term event, we continue to be focused on the longer term and executing to continue to grow our market share and execute on our digital strategy, which is now more important than ever.". In the U.S., he said, trends have been relatively consistent.

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Banks Should Make 2024 a True ‘Year of Digital’

Gonzobanker

In fact, according to Cornerstone’s What’s Going On In Banking 2024 report, 14% of banks and 20% of credit unions stated that they are less than 25% complete with their digital transformation. In the face of a digital vendor landscape teeming with activity and competition, financial executives have several key trends to consider: #1.

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Geneva Car Show Canceled; Automakers Plan To Go Digital

PYMNTS

As carmakers were forced into contingency planning, digital strategies emerged as a means of saving a portion of their marketing activities. The group will reportedly have the same program on Tuesday, but through a “digital press conference” with Chief Executive Officer Oliver Zipse.