Today’s banking experience is very different to what it used to be. The attitude and behaviour of the youngest segment of the workforce tells us that tomorrow’s bank won’t look like the bank of today. They don’t go into branches; they interact digitally; they value apps. This shift in consumer behaviour has led some commentators to predict that the bank of the future will in fact be a facilitating back-end; one that customers will hardly notice at all. The question isn’t therefore will there be change, but rather just how big will that change be and how soon will it happen?

KPMG has predicted that by 2030 banks and banking will be “largely invisible” to customers. To demonstrate their vision they created a hypothetical Siri-like personal assistant with an almost omniscient presence, accessing data from a range of sources and making decisions on the consumer’s behalf based on its deductions.
In one example…

Read More…