Banks are relevant to customers today, but digital disruption, disintermediation, and changing regulations threaten to reduce some banks to low-margin utilities, without relevance in people\u2019s everyday lives.<\/p>\n
While banks today vary in the quality of their digital offerings, their product sets, services, and business models are mainly all the same. This will start to change, and banking itself will begin to fracture as individual banks find new revenue streams, explore new business models, and establish new brand positioning. But all successful banks will have a common attribute at their core: enabling financial well-being for customers.<\/p>\n
Gone are the days when banks could essentially go it alone in serving their customers\u2019 needs. Digital banking strategies should focus on building financial ecosystems to provide more relevant and expansive services.<\/p>\n","protected":false},"excerpt":{"rendered":"
Vision: The Digital Banking Strategy Playbook<\/em><\/p>\n In the age of the customer, banks will either reinvent themselves or be forgotten \u2014 reduced to what one executive calls \u201cdumb money pipes.\u201d Digital business leaders will need to make tough choices and take bold actions over the next five to 10 years to stave off the serious threats that banks face. This report outlines Forrester\u2019s vision of digital banking\u2019s future, one dominated by firms, both banks, and non-banks, which predict and anticipate people\u2019s financial needs to provide personalized experiences that are simple, ubiquitous, empowering, and reassuring.<\/p>\n","protected":false},"featured_media":53621,"template":"","meta":{"pmpro_default_level":"","tdm_status":"","tdm_grid_status":""},"product_brand":[],"product_cat":[2355,2347],"product_tag":[],"class_list":["post-75715","product","type-product","status-publish","has-post-thumbnail","product_cat-digital-banking-en","product_cat-study-library","pmpro-has-access","first","instock","shipping-taxable","product-type-external"],"yoast_head":"\n