What are the gaps between customer expectations and current capabilities in digital banking?

Global Consumer Banking Survey

The banking industry is in a digital arms race. Banks around the world are already realizing how investments in digital technologies could benefit customer acquisition and satisfaction. For many retail banks, online and mobile channels have become as important – if not more important – than branches and ATM’s. This causes these banks to invest heavily to enhance their digital banking capabilities.

4 key Findings

The Deloitte Center for Financial Services surveyed 17.100 banking consumers across 17 countries to measure the current state of banks’ digital engagement. Consumers’ expectations and perceptions of digital banking capabilities were captured, as well as the likelihood of using additional digital banking services in the future.

The results support Deloitte’s belief that restructuring organizations around different stages of customer interaction will be the next frontier for digital banking. This will require integrating digital services across five stages – adoption, consideration, application, onboarding, and servicing – to drive holistic engagement. The report highlights four key findings that describe the focus that banks should have to keep up with the customer expectations

  1. Satisfaction with banking is relative – bangs lag behind other brands in building emotional connections with their customers. 
  2. The rate of digital adoption is encouraging, though transactional in nature – Although branches and ATMs are still used by slightly more banking customers, digital channels are used more frequently. 
  3. The digital-emotional connection – the results confirmed a positive relationship between digital usage and emotional engagement. 
  4. More real in digital and digital in real – Merging the physical with the virtual/digital is key to superior customer experience.

The results show that there is a need for an evolution in how consumers interact with their banks, and customers are expecting that progression to begin now. Read the report to learn what the impacts these changes in customer expectations have on your organization.

Global Consumer Banking Survey report

Read the full report here

More information?

For more information about the Global Consumer Banking Survey, please contact Harmen Meijnen or Emeric van Waes via the details below.

Did you find this useful?