Each month, we curate a list of articles within the financial services industry to help lenders stay on top of key trends in digital transformation and better understand what they mean for their financial institutions.
This month, we gathered four articles that highlight digital transformation in banking.
Four Articles that Highlight Digital Transformation in June ‘22
4 Processes Financial Services Firms Can Automate Now By Ron Cameron, Bank Automation News
Automation is top of mind for many lenders that want to remain competitive in 2022. In fact, according to a recent Gartner report, 66 percent of chief financial officers reported spending more on automation technology in 2021. This article from Bank Automation News underscores the importance of automation in financial services by sharing four areas of opportunity: account opening, risk management, subject access requests, and client engagement.
6 Tactics to Win Customer Engagement by Rob Guilfoyle, Bank Director
It’s no surprise to banks and credit unions that customer expectations have changed. Borrowers feel less loyal to their financial institutions and more likely to switch to fintechs that provide better customer experiences. The good news for traditional financial institutions is that it’s not too late to innovate and compete against new competition. This Bank Director article suggests six tactics that banks and credit unions can leverage to win customer engagement and remain competitive.
7 Tips For Innovators By Penny Crosman, American Banker
In mid-June, American Banker held their annual Digital Banking conference in Austin, Texas. This event brought together over 1,000 banking professionals from across the United States to network and collaborate. Each day, industry leaders held sessions on various topics related to digital banking in 2022. This article from American Banker summarizes the top takeaways from the event.
From Branch To Engagement Center By Jackie Hudson, BAI
Since the start of the pandemic, banks have begun evaluating how they can reimagine their branches to better serve customers. As more processes continue to become primarily digital, there is a need for lenders to convert their branches into resource centers. These resource centers provide borrowers with one-on-one, in-person support, allowing banks to offer an omnichannel customer experience. They can combine their virtual experiences with best-in-class customer service to create a unique competitive advantage in comparison to fintechs that operate completely online. This BAI article shares steps lenders can take to begin transforming their branches into engagement centers.