Single User License USD: $1950 Report Code: FS41605MR Publication date: Sept-14 Pages: 58
Digitization Trends in the Financial Services Industry is a new market research publication announced by Reportstack. Report description overview: This report analyzes executives’ opinions on digitization trends, and identifies key factors and objectives driving and influencing organizations towards its adoption. The report also examines executives’ viewpoints about preferred digital technology for back-office operations in the financial services industry. It also highlights major challenges faced by organizations in the successful implementation of digitization, and evaluates projected budget allocations to digitization over the next two years. Report Highlight: Overall, 77%, 64% and 49% of respective respondents highlighted ‘improve customer retention and loyalty’, ‘increase sales’, and ‘improve integration and synergy among processes and functions’ as the main goals they aim to achieve through digitization. Rising internet penetration rates and the adoption of new technologies have resulted in an increased customer awareness and knowledge. Organizations are now shifting to a more customer-centric approach to sustain growth in a competitive and technologically evolving business environment. Consequently, to attract customers who seek fast and simple services on online platforms, organizations are now strengthening digital offerings. Evidencing the trend, in March 2014, Citi Private Bank, a subsidiary of the US-based Citigroup, launched ‘In view’, an application which allows customers to interact with the bank and view portfolios, asset allocation and the latest transactions, and analyze performance at any time. Additionally, the Vault digital folder allows customers to safely store vital documents such as passports, bank statements and relationship reports. Speaking on the development, a senior executive from Citi Private Bank commented: “We expect that this digital capability will attract new clients, particularly those tech-savvy clients and people who like to look at their own information but are always on the move.”
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Single User License USD: $1950 Report Code: FS41605MR Publication date: Sept-14 Pages: 58
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