FinanceDublin.com - Customers are the real catalyst of change for retail banks

As the Irish Department of Finance undertakes a broad review of Ireland’s retail banking sector new global research highlights how rising customer expectations and a highly-competitive landscape are intensifying the need for banks to embrace a digital transformation. EY’s Niall Corrigan analyses the key takeaways from his firm’s NextWave Global Consumer Banking Survey.

The banking landscape is transforming across Europe. Driven by a combination of digital technology, an open ecosystem and the impacts of COVID-19, banking has changed beyond recognition. However, the real catalysts of change are customers. These digital savvy natives of all ages live their lives consuming streaming services, shopping online and dining at home using delivery apps. This digital drive has accelerated transformation in banking. Evidence of this can be seen by the proliferation of ne....

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