The competition in the financial services industry has never been as fierce as it is right now. To keep up with changing customer expectations and to deal with the fear of missing out on modern customers, traditional banks have taken quick actions towards digital transformation.
The paradigm shift in the banking industry towards ‘everything digital’ has disrupted the banking experience for customers as much as it has impacted enterprises. While brands assume that all modern consumers experience a seamless digital transition, the reality is often unexpected. This stems from the need to launch digital channels quickly that lack long-term vision.