The following piece is a message from ESBG that appeared in today's Politico.eu Morning Exchange.
Time is of the
essence. For Europe’s savings and retail banks, it’s something the digital wave
has made clearer than ever. People expect 24/7 service and easy-to-use
technology that keeps them in control of their personal finances. People won’t
stand for queues, but prefer to tap into channels like banking apps. Locally
minded banks, proud of their longstanding and trusted relationships with a
sizable client base – including households and SMEs – know this.
changes the customer journey. Working keenly to connect better with their
customers, who hunt for facts themselves and transact over an array of channels
– regardless of time and place – savings and retail banks are working to
deliver comparably high-quality service that’s secure. End-to-end processes are
being revisited not only to adjust to new delivery channels but also to harness
the efficiencies that digitization enables. That means taking a closer look at
customer needs and how people connect with their bank.
Can EU policy help? The
clock is ticking.
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