Retail banking trend #5: Engage outside traditional boundaries

Efma feature

17 July 2019

FinTech is seemingly everywhere – from chatbots proactively engaging customers with sales proposals to new, algorithm-based personal financial management tools. However, as we reviewed 2018’s Efma- Accenture Banking Award submissions, we were struck not so much by the prevalence of FinTech as by what we have termed “The Return of the Human Element.”


Engage outside traditional boundaries

The concept of going outside traditional boundaries is much more than open banking and goes beyond developing APIs or portals. The idea is to engage and surprise customers with unexpected solutions and to move into areas where customers carry out their day-to-day business.

Capital One’s ENO is an AI-based virtual agent that lets customers create a virtual card at the checkout station on major e-commerce platforms. ENO is designed to always provide the best option to meet customer needs.




Submit your innovative initiatives for the Efma-Accenture Customer Insight & Growth Banking Awards 2019. Participation is free of charge and open to all banks whether they are Efma members or not.

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Keywords : Customer experience , AI/Robotics

Geography : International