The Challenge of Digital Transformation

Is it time to say farewell to the traditional bank branch? “The branch of the future” is an expression that is more fashionable than ever. It’s perhaps not entirely new, but the transformation of branches is gathering momentum. Banks around the world are facing an unprecedented set of challenges: regulatory constraints, constant pressure to reduce costs, increasing competition from new entrants and customers’ ever increasing demands for a “seamless omnichannel” experience.
In the context of the reduction of the number of branches in Western Europe the challenge facing banks when it comes to the branch of the future is threefold: to 1) retain customers, 2) whilst improving profitability and 3) attracting new customers.
To continue reading the white paper, produced by Auriga, please use the download button for the PDF.