Recent developments have dramatically altered the banking
landscape and transformed the relationships between banks and their
customers. Customers are understandably more cautious these days,
making it more difficult for banks to retain assets, acquire new
deposits, cross-sell products or acquire new customers.
Customers are feeling the need to stay 'connected' to their
accounts, but meeting this need is driving up the cost of servicing
them to the banks.
Furthermore, traditional interaction channels, including most
mobile banking solutions, are 'customer reactive', relying on the
customer to initiate contact with the bank, when they have an
enquiry or require service.
When the customer controls all the starting points for
interaction, it makes it very difficult for the bank to reach out
to their customers proactively.