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Whose Customer Are You?
Report

Whose Customer Are You?

The Reality of Digital Banking

EIU, 2018

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Editorial Rating

7

Qualities

  • Analytical
  • Overview
  • For Experts

Recommendation

Many banks redirected their strategic priorities away from post-Great Recession regulatory imperatives to focus on digital banking. For these institutions, the question is not whether to implement the technology, but rather how and when. They’ll need to consider carefully the how: Agility at the expense of secure data and money is no virtue at all, according to this robust analysis from researchers at the Economist Intelligence Unit. getAbstract recommends their useful report to financial services professionals.

Take-Aways

  • Over the 2018 to 2020 horizon and beyond, banks will need to use digital technology to respond more flexibly to changing consumer preferences.  
  • New fintech start-ups, along with titans of the technology world – Facebook and Google among them – are entering the financial services arena with next-generation products and transaction options.
  • The infrastructure taking shape is via open banking, which is readily adaptable to varying needs. 

About the Author

The Economist Intelligence Unit is an independent research and analysis organization.