Onboarding the Open X Express
Consumer expectations are high, guided by stellar experience from BigTechs and challenger banks. To catch up with these non-traditional players, incumbents must embrace Open X and become Inventive Banks, with collaborative support from qualified FinTech partners.
The gap between what customers expect and what banks deliver has never been wider. Customers expect their banks to offer an experience that matches the convenience of today’s popular non-traditional players. And they won’t hesitate to switch to one that offers hassle-free, relevant products, and services.
Impact of BigTechs and challenger banks
World FinTech Report 2020
No longer banking industry disruptors, BigTechs and challenger banks have opened a Pandora’s box of sky- high customer expectations. But banks can still thrive by transforming into inventive banks. The World FinTech Report 2020 from Capgemini and Efma explores how effective collaboration between inventive banks and mature FinTechs can help fill in the gaps from the front to the back office to deliver a meaningful customer and user experience.
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