Using technological innovations to make the process of completing financial transactions seamless and convenient for customers seems like a worthy objective for banks. It’s a good goal, but it doesn’t go far enough. Celent’s recent survey indicates that today’s digitally oriented consumers expect more; they expect to be positively engaged through relationship building, which will result in their banks knowing them well enough to offer invaluable, tailored financial advice.
Royal Bank of Canada
“Plan for radical change, or prepare for obsolescence” was the recent message from former Apple CEO John Sculley in reference to the banking sector’s latest digital innovation: the chatbot. As part of the ongoing fintech revolution, mobile-messaging applications are now being adopted around the world at an astronomical rate.
The decline in global oil prices between mid-2014 and February 2016 had a dramatic impact on many economies around the world. Prices slid below the average costs of production for many oil-producing nations, which in turn rendered their