Challenging 2017: a revolution in traditional retail banking

With 2016 now in the past, the retail banking sector is facing the new year with a bit of a hangover. Major players across the industry have sleepwalked into becoming too operationally complex, heavily fragmenting their customer experience so that their customers have become dissatisfied and market shares eroded. But most damaging of all, is the malaise which has led to a market littered with offerings that customers – and often bank employees – simply cannot understand. In many cases, banks have fallen into a rut where commercial propositions are poorly executed and points of differentiation are rapidly dwindling. 

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