Questions On The Banking System

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Today’s banking system very much gives us the hint about the banking system say

20 to 25 years from now. Digitization promises to automate and improve many

banking processes. Yet it’s not without peril: customer demands and expectations

are increasing, and technology is fuelling the emergence of significant new

competitors. (www.mckinsey.com)

Banking Transitions- Branch banks have historically been the front line of the

customer relationship. But at a time when more than 50 percent of Americans bank

online to some degree, branch banks are challenged to stay relevant.

Customers’ branch visits have decreased over the past decade as more financial

transactions migrate from the branch to mobile and online channels. Branch banks

are also expensive to operate. As customers rapidly adopt online modes of

banking, branches will struggle to stay profitable using their current model. Banks

are inventing new ways for the branch to cater to certain customer interactions.

Branch banks of the future will focus less on transaction-oriented business and

more toward sales, service, and consultancy.

The Likely Face Of The Future Banks-

a. Digital Signage and Kiosks - Banks of the future will embrace digital signs,

self-service kiosks, and other visually interactive technologies to improve

the banking experience and communicate more effectively with customers.

Banks of the future will deploy touch-screen “media walls” and other

interactive elements in high
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