Something big is stirring in retail banking. Across the
world, financial institutions are rolling out a broad
array of initiatives that place bold bets on new digital
technologies, which they expect will fundamentally
change how they attract and retain customers.
Each of these initiatives marks a major effort to
harness fast-moving digital technologies, unrestricted
mobile access and vibrant social media to banks’
interactions with their customers. But to a large degree
the digital pioneers—as well as banks that have yet to
cross the digital Rubicon—are also in a battle for
survival as they race to keep up with consumers’ rapid
embrace of wireless interconnectivity.
The challenge is global and gaining momentum as banks
try to come to terms with technologies that have
transformed sector after sector. 2012