BANKING INSIGHTS

Fintech and its Digital Disruption of the Banking Industry

Successful navigation of the seismic impact fintech has made on the banking sector requires both investment in technology and re-imagination of the overall banking experience offered to customers.​

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Financial technology (“Fintech”) has disrupted the finance sector and caused a digital transformation that is impacting the traditional banking model. To stay competitive and keep pace with customer expectations, conventional banks are increasingly embracing digitalization.

 

 

In this Insight, ISS explores fintech's impact on the banking industry and how organizations are re-imagining the banking experience, addressing generational preferences, re-directing recruitment to attract and retain a tech-savvy workforce, and strategically remodeling retail banking spaces to accommodate a new purpose.

2

Average times millennials visit a physical bank branch per year

76%

Digital bank customers who use a mobile app

3,000

Number of bank branches closed in the U.S. from 3/21-3/22

Download this latest edition of ISS Insights to learn more about how:

  • Innovative technologies that equip customers with faster, more reliable, and more convenient financial solutions drive the fintech market.
  • Banks are creating digital strategies that attract and retain younger customers while balancing the preferences of earlier generations.
  • Re-visioning their brick-and-mortar branches to ensure ongoing relevance has become a prime focus for many banks. 
  • Most banks have shifted recruitment to professionals from the tech sector.

Interested in discussing how ISS’ banking experts can assist in understanding the changing facility landscape? Contact us today.

Banking Insights

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