Even as the banking industry grapples with sweeping changes in policy, regulation and customer expectations, a ‘big bang’ transformation in strategy or host systems may not be on the cards this year. A peripheral, step-by-step, incremental agenda will be beneficial for banks in 2013. But don’t be swayed by the word ‘incremental’. Each of the trends in this infographic has the potential to deliver significant business value.
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Original Post: http://www.infosysblogs.com/finacle/2013/01/banking_trends_for_2013.html
That point about life-stage banking being “overlaid” with lifestyle banking particularly resonates. There is not enough awareness in banking today of the differences in consumers, who are within the same demographics. Two consumers of the same age, same occupation, same income, same geography, same whatever, can have completely different banking needs and usage patterns. As alternative banking channels become anything but alternative, usage patterns and needs equally are diverging — and banks can become far more sophisticated in communicating based on the diversity of their customer bases. (For example, “You like that personal touch — call us” vs. “We know you like that mobile app — we’re continuing to add mobile features.”)