The ease of access to our banking data and information viasmartphone devices has been generated massive change in the marketplace, andboth new entrants and established players are seeking to define themselves. Thelatest generation flexing its spending power has demonstrated a predispositionto digital banking services, and those that fail to cater to their expectationsrisk being abandoned.
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Mercator’s research conducted with consumers bears out manyof Fiserv’s findings. Those FIs that lack the internal resources to provide digitalbanking services risk extinction. Navigating a path for technologicalintegration, vendor selection and management, and service level agreementmonitoring will be crucial aspects of business for small and mid-sized banks inthe coming years. Mercator’s Customer Interaction Advisory Service will beclosely monitoring and reporting on this turgid sector.
Overview by Joseph Walent, Associate Director, Customer Interaction Advisory Service at Mercator Advisory Group
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