Community
It seems France and Britain still have little in common. Financial services institutions in Europe have different views about the future of in-branch banking, although they all agree that everyone values the personal touch. That applies to conventional face-to-face meetings and digital services from a tablet, mobile or smartphone. So, what are the current trends and how do they differ from the Uk to the continent?
The French prefer it personal
In France, banks like to entice the customer to face-to-face meetings. They believe that especially where there have been life-changing events in people’s lives – such as house sales or mortgage applications – the personal touch builds customer and brand loyalty. It is valued by clients, even though it comes at a cost. Therefore, they want to retain the physical presence as a key part of the customer interaction in the future. The issue is whether the need for bank branches will continue? More and more online players show that good customer interaction is possible without a personal visit, especially with the new digital generation reaching adulthood and making digital channels their preferred choice.
To be British is to be online
The Banker and SAP report on customer engagement in the digital age shows that in the UK the new digital generation feels much more comfortable doing it all online. It’s the quality of service that counts, not the physical presence of an adviser.
What’s important is that banks give the best advice when selling products and provide competitive offerings. Research shows that while the demand for digitised, customer-centric services is increasing, there’s no one-size-fits-all approach that best meets customer expectations country by country. But in the long-term, I believe it’ll be a case of investing in services, rather than buildings.
The Banker/SAP report: Customer Engagement in the Digital Age
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Hassan Zebdeh Financial Crime Advisor at Eastnets
08 October
Jelle Van Schaick Head of Marketing at Intergiro
07 October
Kuldeep Shrimali Consulting Partner at Tata Consultancy Services
Nikunj Gundaniya Product manager at Digipay.guru
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