Being the bank your customer needs and will demand in the future, comes with a unique set of challenges that organizations in financial services must address now. While businesses today aim to attract and retain customers with new products and services, innovation has largely been driven by the fintechs while the traditional financial sector is often thwarted because of the inability to change and risk management constraints.To compound this dilemma, the traditional banking model is increasingly out of sync with the needs of today’s customer. New experiences and real time services are becoming the benchmark that traditional financial institutions must meet to retain parity, or risk losing market share to the fintechs and neobanks.Building the bank for the People
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