In search of better banking

Competition in the banking sector is fierce. There are new players, some of which bear little resemblance to established institutions, and there’s pressure to offer user-friendly, unique services. And there are only so many customers, and banks, both neo and legacy, have to expand the breadth of their offerings and offer more value and services.

Financial institutions now need to make their presence felt on different platforms, find new ways to connect with customers, and mine customer data so they can develop personalised products. This, at least in theory, will improve customer retention.