New data from Insider Intelligence confirms the trends: Banks need to step up mobile and digital banking – and marketing! – efforts if they hope to compete with fintech for Gen Z customers.
Considering the expectations of consumers and the business impact of digital engagement, banks and credit unions don’t have an option to sit this one out. Media Logic lists the industry trends that are making strong digital channels necessities for FIs.
Pressure on financial institutions to match the customer experience of tech-based companies isn’t new. For years now, the convenience of on-demand services from wildly popular brands like Apple, Amazon and Uber has been changing the way consumers interact with companies. See why our team thinks there are now solid opportunities for FIs to reach the higher bar and retain customers.
Capital One deserves a lot of credit for realizing that to successfully take over a beloved brand they needed to also preserve it and allow it to flourish.