Banks Need to Do More for Customers

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A report from Business & Decision and the Industrial Statistics Research Unit at Newcastle University which looked at the online self-service channels in the financial services found that key areas of financial services remain digitally disconnected with consumers.
 
Businesses that lack the means to connect digitally with consumers are expected to find themselves left behind by the consumer demand for digitally-based products and services. As through all major industrial changes, businesses that are adaptable and responsive, that rise to meet the challenges and understand the fundamental shifts taking place, can and do survive, albeit sometimes in a very different form.
 
Ian Marshall co-author of the report, Business & Decision, elaborated for KIOSK EUROPE the role that branch kiosks could play in these transformations: “For the purposes of the research we were looking at self-service purely from the internet channel perspective."
 
"However, I do believe strongly that self-service kiosks are an important element of self-service banking.  Undoubtedly, there exists a requirement for all retail banks to provide links into their banking network and their service propositions so that customers banking needs (possibly viewed as more 'physical' links into the banking services than those provided through the internet channels accessed by home-based customer PCs/Laptops) are fully met.”
 
The Revolution in Self-Service Channels in the Financial Services Sector report analyses the growth of consumer self-service channels in key areas of the Financial Services market and looks at who is winning and who could lose out. This new report examines the recent emergence of new operating models and highlights the transformation of more established business models in those parts of the financial markets most affected (e.g. general insurance, wealth management and retail banking).