Skip to Main Content
Access your saved content
Survey Shows How Banks Can Respond to Changing Customer Needs
Banking customers are changing. In North America, for example, a recent Accenture survey shows they value banks that are nimble, proactive and far more digital. Customers value flexible, any-time access to their banks, tools to help with financial planning and well-priced services that anticipate their needs, according to the survey. Here are ways in which banks can respond.
Branchless Digital Banks Are Gaining Acceptance
Customers value always-on digital access. By responding to changing customer needs and providing digital experiences, banks can satisfy a majority of their North American customers.
New Providers Challenge Banks’ Status Quo
Stable bank relationships are at risk due to changing consumer preference, continued industry convergence and emerging new players.
Banks Can Respond by Getting Closer to Customers
Banking relationships are perceived as transactional and not relationship-based. Unless they make dramatic changes, banks will become mere utilities, losing ground to non-financial competitors.
Customers Seek Actionable Advice
North American banking customers desire budgeting tools, proactive spending analyses and projections and proactive product recommendations. Meeting these needs can reward banks with increased customer loyalty.
Making Gains by Offering a Holistic Experience
North American banking customers are open to banks extending themselves beyond traditional financing by providing value in new areas. Tapping opt-in and generic transactional data, banks are well positioned to anticipate customers’ needs and recommend well-priced products and services.
June 6, 2014
Skip Footer Links