Samle Di Ney

5) Biometric authentication, quick balance checks, and easy transfers are increasingly table stakes for banking apps. However, leaders take a customer-centric mindset to developing new features that will capture the attention of customers and be adopted rapidly. For example, in the United States, banks with remote check-deposit capability had about 40 percent of checks deposited via their apps in 2019

6) To thrive in the next normal, banks not only need to meet customer preference for higher digital engagement but also must learn from precrisis leaders on how to meet more and higher-value needs via digital. While in many markets the crisis caused a significant drop in monthly unit sales across all channels, it also accelerated the sales mix redistribution as channels recovered at varying speeds

3) To capitalize on this demand, banks can learn from precrisis leaders that achieved significant growth in digital activity. They accomplished this by riding the meteoric rise in banking apps over the past five years that made mobile the go-to channel for many customers. Leading banks had 54 percent of customers active on mobile, compared with 24 percent for slower adopters

2) During COVID-19, banks have supported customers in banking safely from home via digital and telephony. In doing so, they have unlocked the next wave of digital service. As of May 2020, consumers have been highly satisfied with digital channels, and as many as about 60 to 85 percent of Western European consumers, even those aged 65-plus, prefer to use digital for everyday transactions.

1) The cumulative distribution must eventually reach 1.0 or 100% on the y-axis. If we raise the bar high enough, then at some point, virtually all outcomes will fall under that bar (we could say the distribution is typically asymptotic

8) Leading banks achieved these results by optimizing across the customer journey and consistently innovating the digital customer experience. For example, they regularly tested and launched new capabilities, used customer-relationship-management (CRM) tools to create

7) To thrive in the next normal, banks not only need to meet customer preference for higher digital engagement but also must learn from precrisis leaders on how to meet more and higher-value needs via digital. While in many markets the crisis caused a significant drop in monthly unit sales across all channels, it also accelerated the sales mix redistribution as channels recovered at varying speeds

6) Biometric authentication, quick balance checks, and easy transfers are increasingly table stakes for banking apps. However, leaders take a customer-centric mindset to developing new features that will capture the attention of customers and be adopted rapidly. For example, in the United States, banks with remote check-deposit capability had about 40 percent of checks deposited via their apps in 2019

5) More importantly, high mobile usage enabled top performers to grow total customer touch five times faster than slow adopters and to generate over a third of all their digital sales via the mobile app.3 These differences in performance are driven by several factors: advanced app features, superior user experience, and innovative capabilities to proactively engage users.

2) A staggering amount of money has been lost over the years by clever people who confused the accurate distributions (i.e., as if derived from physical sciences) with the messy, unreliable approximations that try to depict financial returns. In finance, probability distributions are little more than crude pictorial representations.

3) During COVID-19, banks have supported customers in banking safely from home via digital and telephony. In doing so, they have unlocked the next wave of digital service. As of May 2020, consumers have been highly satisfied with digital channels, and as many as about 60 to 85 percent of Western European consumers, even those aged 65-plus, prefer to use digital for everyday transactions.