Description
Digital Banking Maturity (DBM) identifies global leaders and best practices. Covering 304 banks across 41 countries, DBM analyzes digital retail banking services across 3 channels throughout the entire customer journey, based on a mystery shopper assessment of digital features, customer needs research, and UX evaluation.
The pandemic has irreversibly changed the world and the banking sector. Changes across markets and industries have influenced customer expectations for digital banking services, which are now higher than ever.
The gap between the best and the rest has widened. Digital maturity is growing across the banking sector (e.g., ~70% of surveyed banks now offer remote account opening compared to 55% in 2020), but top players have increased their lead, especially in areas like bancassurance, investment services, card management, and authorization.
Banks are becoming more than just banks. Leading banks are transforming into multi-service platforms, offering services in areas such as mobility, e-government, healthcare, and commerce. Leveraging regulations and cross-country solutions, banks are building ecosystems that provide customers with a unified view of all their accounts.
E-commerce solutions are on the rise. In response to the growing importance of e-commerce, banks are implementing solutions designed for online sales—including the development and integration of marketplaces into their digital channels.
Banks’ advisory role is expanding. Acting as trusted advisors, banks support customers in everyday financial management through a wide range of digital solutions, such as personal finance management (PFM) tools, diverse investment options, risk profiles, automated investment advice, and portfolio management.
UX is a key differentiator. The user experience of digital banking channels can be just as important for customer satisfaction as the number of implemented features. New functionalities deliver the most value when added as part of a well-designed strategy with a strong focus on UX.
