What Technological Innovation Strategies Are Currently Evident?

1921 Words8 Pages
What technological innovation strategies are currently evident? In 2015 there are different types on Technological innovation strategies that are used within the banking sector such as customer experience, in store or on a social level and even mobile banking. According to the 2014 World Retail Banking Report by Capgemini about 40% of global customers have reported to have positive experiences with their banks. The banking way of life is changing because consumers are banking via mobile and or social media instead of having an in store experience. (Jim Marous, 2015) Nowadays using mobile banking make checking and making payments from your account a lot easier because you are able to check your balance and then transfer money were needed…show more content…
Despite these successes the banks have failed to understand and deliver innovation that is fuelled by different technologies to their customers. (Gerbino, D., 2014) Mobile banking has come a long way in the past couple of years, at the start users were able to transfer money around in their different accounts and then to different people for different reasons. Barclays Created a mobile app called Barclays Ping It where there a customer is able transfer money to another person via the person’s mobile number. With Barclays there customers “ are using the mobile banking app about 24 times a month, going online twice a month and visiting a branch less than twice a month” that was stated by Barclays CEO Anthony Jenkins when he was interviewed by the Independent. This shows that smart devices are changing the way people are banking and that Barclays are determined to adapt to the changing environment. It was revealed that Barclays is taking over 6,500 cashier and training them to become community bankers which their sole aim is to help customers use the automated machines within the banks. (Ben Rossi, 2014) Barclays they have won awards for the mobile banking services and they are mainly dated in 2012 and they are for the Barclays ping it
Open Document