What a year for Retail Banking

What a year for Retail Banking

In this episode of Branching Out, Michelle Gauchat, US head of banking and capital markets consulting at Deloitte, joins hosts Kristin Korzekwa and Bill Dworsky to discuss how the last year has shaped retail banking strategy. Gauchat also talks about the importance of deposits and AI within banking, the challenges currently facing small businesses and their interactions with banks, and how to navigate difficult situations while simultaneously improving customer experiences. Plus, the overall discussion explores retail banking trends, digital transformation in banking, and what sort of changes we can expect for payments and deposits in 2024.

Small businesses have very few employees and that's exhausting their time. It's exhausting their ability to stay organized. So, I'll say, I think one of the trends we're starting to see, and we're going to continue to see next year, is how banks make it easier for small businesses to get paid. And that's not only the different rails, the different methods, that's the seamless tools for small businesses to use to manage their revenue, invoicing, bookkeeping, the integration across all of the software and tools that small businesses are using, and we know that they are increasingly going digital.

—Michelle Gauchat
US Head of Banking & Capital Markets, Deloitte Consulting LLP

If I could tease some of the topics that I think our listeners can expect to hear from us, I think continued improvement on the path towards omnichannel customer engagement. Thinking about how do we really truly create a consistent experience and an amazing experience across channels for consumers leveraging game changing technologies from core modernization and cloud migration to digital banking.

—Kristin Korzekwa
Consulting Managing Director, Deloitte Consulting LLP