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What should a bank be like? Intuitive, smart and customized. These three adjectives describe the bank of the future, according to a survey of U.S. and Canadian consumers conducted by Accenture. Until now, 79% of customers believe that their relationship with their bank is merely transactional.
According to this study, 54% of users expect their bank to be “intuitive” when it comes to offering services, 53% demand proactive “intelligence” from their bank, and 52% require customized recommendations of products and services.
Agile operational models and digital development are thus essential for achieving the goals of these demanding customers: getting to know them, rethinking the experiences, focusing on loyalty.
This is how the transformation of the traditional financial system is described. Changes that according to this study are focused on ensuring the customer's experience, i.e. on improving the relationship with the users by offering them more customized products and services, more in line with their real needs. This is the so-called 'client at the core' strategy.
And around these new offerings appear some of the “new” customers of banks, the Millennial Generation. These young people have demonstrated that they have no qualms about changing the banking system: 18% claim to have switched banks in the last year.
This study points out that 86% of respondents trust their bank, above the rest of institutions, to securely manage their personal data. Trust is the key and when it comes to security, banks are trusted.
Source: Accenture survey of 4,000 consumers in the U.S. and Canada.
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By BBVA Innovation Center