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The Digitisation of Retail Banking [INFOGRAPHIC]

Digitisation Retail Banking EFMA Mysis

The EFMA published this infographic on the digitisation of retail banking to tease its upcoming study on ‘banks’ evolution to customer-driven sales’ in partnership with Mysis.

Digitisation Retail Banking EFMA MysisThe EFMA will publish in July 2015 their study on ‘Customer-centric, product-centric, sales-centric: Banks’ evolution to customer-driven sales‘.

Efma database research highlights that the number one management priority for retail banks is ‘grow revenues’, and a close second is ‘improve customer service’.

This study will analyse how closely the two are tied – and is ‘customer centricity’ a PR stunt that is detracting banks from their primary focus of revenue generation? Are banks deploying resources at the most effective areas, in order to meet their strategic objectives?

The purpose of this study made by Efma in collaboration with Misys is to understand:

  • Is customer-centricity distracting banks from making sales? • How can banks harness contextual marketing to create greater sales success?
  • How can advances in consumer technology – mobile, wearables, augmented reality – be effectively used for trigger-based marketing?
  • Is technological inflexibility constraining banks’ ability to launch new products, services, features?

INFOGRAPHIC: the Digitisation of Retail Banking

Digitisation Retail Banking Infographic

This is an insightful infographic on the digitisation of retail banking put together by Mysis and the European Financial Marketing Association.

If you are a loyal reader of VisibleBanking.com, you will know I’m a big fan of the EFMA.  Last month in Barcelona, I delivered my 10th speaking engagement on social media and digital innovation at another one of their brilliant international events since 2007, the EFMA Distribution Summit 2015.

If you enjoyed reading my article or if you wanted to react, I invite you to connect with me here, on twitter (@Visible_Banking) or on LinkedIn.

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