Global banking outlook 2014-15
Customer: demands and expectations
Retail and business banking customers across the spectrum, including those in rapid-growth markets, are demanding product innovation and increased levels of service.
Customers increasingly use different providers for different needs. In any given banking relationship, they also want to use their channel of choice (mobile, online or in-person) for different activities.
Most important key features or benefits sought from primary financial service providers
The nature, speed and sophistication of cyber crime are evolving rapidly. Hackers operating for financial gain may be the more immediate concern for customers, but denial of service and other large-scale attacks are potentially much more damaging.
Banks recognize the threats, but given the volume of attacks they must focus on securing their most important data and systems. Unfortunately, budget constraints and a lack of skilled staff prevent many from delivering fixes.
Underpinning many customer expectations is the need for banks to rebuild trust with their customers. Consumer protection agencies are introducing new rules on sustainability, but banks must also demonstrate that they prioritize long-term customer satisfaction over short-term sales.