Simulchanneling in banking

Published on November 30, 2016   15 min

A selection of talks on Finance, Accounting & Economics

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Hello. My name is John Ginovsky. I'm a contributing editor to Banking Exchange Magazine, which is based in New York. For a number of years, I've written about the extraordinarily dynamic environment of banking technology, trying to make sense of it all. I cannot claim any real expertise in how that technology actually works. But I do have some feeling for how the technology interacts with banking customers for good or ill.
In this presentation, I will cover these topics. What do customers want? What do customers really want? What is "simulchannel"? What is the point? Mobile as the key to simulchannel. The top three customer concerns that banks should seek to address. And the five "Cs" of understanding and using mobile to its best effect.
So what do bank customers really want? Surprise, better customer service. Or put it in other way, they want to know that their bank really knows them, in order to provide that customer service. Now this shouldn't really come as a surprise, it's always been true. But leave it to the analysts, observers, and professional advisors to point out just how true that really is. Take for example, Mercator Advisory Group, which issued a report with this headline. "Bank customers want their banks to know them better." Fortunately this report and others go beyond the obvious to answer the question, what do bank customers really want? It turns out that customers increasingly are changing what they really mean about knowing them better. Namely, they want their banks to know them digitally, as well as in-person. And here is the key point. They want their banks to know them digitally and in-person at the same time. This goes beyond the omnichannel approach. And if there were such a word, they want a simulchannel experience.