Online, mobile, omnichannel, untethered, data mining, automation, and remote
communication are all now buzzwords surrounding the new technologies and resources
financial institutions have to help them re-invent their branch experience. Capabilities are
available today that were not imagined a decade ago. This is an exciting time for those
institutions that can look to the future and enhance their offerings.
While technology is driving change, it can also be a tremendous challenge for financial
institutions as they work to keep pace and even take advantage of the dramatic shift in
customer needs and expectations. Millennials, baby boomers, small businesses – all are
important market segments with very different wants and needs. Driven by technology,
the new demand is for a complete online presence, complemented by more flexibility in
personalized services, and specialized expertise available in every branch.
Suffice it to say, financial institutions of all sizes and in every geography a
For banks, mining data from social media can be a significant way to gain insights into customer mindsets and behavior, but effectively and accurately capturing and processing this unstructured data to gain useful customer insight requires sophisticated tools and advanced analytics.