The digital transformation of society as a whole has changed the expectations of customer services within the financial services sector. As a result, retail banking operations face testing times as the industry goes through significant and rapid modernisation.
“This time is different”. The four most dangerous words in investing are normally whispered at the peak of a bull market. Said as a caution on a downswing they are not quite so dangerous, and amid regulatory, market and technological disruption, banking really is changing markedly in a way from which we see little prospect of a return to the earlier status quo.