Disruption in technology, rise of millennials, and competitive marketplace are leading to disintermediation in the value chain and business models of traditional banks. To keep pace with the digital change, banks are aligning with digital-first operating models, adopting cutting-edge technologies, and fostering new digital-savvy culture.
Banking is increasingly being embedded in customer activities since it is an enabler. This transition is morphing the role of banks to become lifestyle experience orchestrators. Banks are focusing on the power of three E’s – experience, efficiency, and ecosystem – to enable their transformation journey. In this research, we study the experience-centric investments of 40 global banks.
The research focuses on banking IT services industry with primary focus on customer experience: