Efma launches Omni-channel banking: digital transformation roadmap report
Report highlights how banks and credit unions can fight back against emerging competition.
05 November 2015Convenience has become an increasingly important part of customer service across a range of industries, with people becoming accustomed to having instant access to the products and services they desire.
But where do the opportunities for increased convenience and simplicity present themselves in the financial services industry?
Services such as Lending Club - a peer-to-peer lending company based in San Francisco, US - have seen excellent traction within the market. In fact, Lending Club was valuated at US$9 billion earlier this year, something that lifted the company’s market value higher than all but 13 banks in the US.
This is just one example of a company targeting the same markets as the traditional banks with some success. In fact, in 2014, fintech companies raised around US3 billion, proving that such companies are starting to see significant results.
But how can banks and credit unions fight back? What can these institutions do to ’challenge the challenger’ and accelerate their own digital transformation in order to remain competitive and profitable in the modern market?
Efma’s Omni-channel banking: The digital transformation roadmap report provides a set of important points for banks that are looking to improve their digital transformation efforts, covering the customer experience, omni-channel delivery models, digital strategy and company purpose.
Download the report