Digital distribution takes center stage
When banking organizations were asked to determine what channels will be the most important in 2022, an overwhelming majority of organizations saw mobile and online being the primary distribution channels. After the current digital channels, it is surprising that digital assistants (bots and voice devices) were seen as the third most likely channel, with social media close behind. The impact of open banking can be seen by the fact that third-party distribution was seen as a more important channel than ATMs and call centers.
In a very dramatic view into the future, banking organizations worldwide see branches as the second-least-likely delivery channel in the future, with relationship managers also being rated very low, Interestingly, this year’s survey respondents did not have much “digital love” for wearables.