Macro trends such as the emergence of new technologies, pronounced demographic shifts, and competition from non-bank providers are introducing massive changes to traditional retail banking. Retail banks will need to learn how to effectively compete in this rapidly transforming environment to emerge as a leader.
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But, several factors have inhibited this kind of critical innovation in the financial services sector including the dependence on legacy systems, the high cost of in-house implementation of new technology offerings, and siloed business units that make data sharing and holistic customer experiences challenging.
The Yodlee® Retail Banking solution enables financial institutions with the data, tools, and the access to third party innovation to create truly unique customer-centric experiences to engage, delight, and inform the digitally savvy customer. Yodlee has put a significant effort into research and development over the past two years to gain a deep understanding of how people engage with their finances on an emotional and functional level in order to deliver the next generation of digital banking solutions.
Learn how banks can use technology to:
Technology is transforming the way digitally savvy retail banking customers manage their finances. Retail banks that do not appreciate and plan for the shifting technological and generational landscape are at significant risk of disintermediation by non-banking technology providers.
Financial institutions that listen closely to their customer and meet their desire for online financial education and financial management tools ultimately enable them to feel confident and in-control of their entire financial picture will have the advantage.