Banking / Finance

Top ten retail banking trends and predictions 2016

07th Jan `16, 12:20 PM in Banking / Finance

For the fifth consecutive year, we have surveyed a panel of close to 100 global financial services leaders for their…

BDMS
Guest Contributor
 

For the fifth consecutive year, we have surveyed a panel of close to 100 global financial services leaders for their thoughts around upcoming retail banking and credit union trends and predictions. The crowdsource panel including bankers, credit union executives, industry analysts, advisors, authors and fintech followers from Asia, Africa, North America, South America, Europe, and Australia.

These exclusive interviews are one of the components of the expansive Digital Banking Report, ‘2016 Retail Banking Trends and Predictions‘, sponsored by Kony, Inc. being released shortly. In addition to interviews, the report includes in-depth analysis, charts and case studies around each trend.

Last year’s report proved to be highly accurate, with significant advancements in digital delivery, mobile design, the use of analytics, innovation and customer experience. Our expert panel was a bit too optimistic with their projections regarding mobile payments, industry consolidation and contextual engagement, however.

This year’s projections include a ‘doubling down’ on some of the major trends from last year, with new projected trends in the areas of digital and mobile delivery, customer experience, digital payments, alternative products, innovation, authentication and advisory services.

  • The ‘Platformification’ of Banking
  • Removing Friction from the Customer Journey
  • Making Big Data Actionable
  • Introduction of ‘Optichannel’ Delivery
  • Expansion of Digital Payments
  • Executing on Innovation
  • Exploring Advanced Technologies
  • Emergence of a New Breeds of Banks
  • Mining New Talent
  • Responding to Regulatory and Rate Changes
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