Last week, we covered the primary opportunities and challenges among the bankers we surveyed to create the Executive Report: 2015 Banking Priorities. This report combines feedback from more than 200 of your industry peers—most of whom are vice presidents or higher.
This week, we’ll examine what technology investments banks like yours are planning to make in 2015 to address the biggest opportunities and challenges identified in our survey.
Identifying Areas for Development
Driving interest and loan growth, improving customer service and using omnichannel strategies to deploy online and mobile banking top the charts as the largest opportunities for banks in 2015. Many bankers anticipate using technology to help them deliver premium customer service through tools that show a comprehensive view of the customer, are more intuitive and allow bank employees to provide better customer experiences.
Whether it’s expanding or retooling your product portfolio or improving your service offerings, successfully implementing such programs requires the use of new technologies. And developing these opportunities goes hand in hand with your ultimate goal of becoming more profitable.
Investing in Technology to Facilitate Success
Technology will play a significant role in 2015 if banks want to achieve their goals and overcome some of their greatest challenges. Why? Because embracing new technology can help improve both customer service and the customer experience.
There are several key technologies that will play a pivotal role in 2015, including:
With the majority of bankers surveyed reporting that non-traditional services will have a positive impact on their profitability, it appears that banks believe they’ll have a greater opportunity to participate in new technologies, like Apple Pay. And what do all of these technologies have in common? They all help make the banking experience more convenient and accessible for customers.
Changing the Way you do Business
Technology is changing the way banks work, deliver their services and increase their profitability. Implementing new technology is at the forefront of bankers’ minds today, and it’s essential to achieving your goals for growth, customer service and digital delivery channels.
And according to our executive report, more than 65 percent of your peers are committed to investing in technology products and services. Are you? Find out next week why your peers think technology has a role in accomplishing your strategic goals.
Steve DuPerrieu serves as director of product management for CSI NuPoint. In his role, Steve oversees the strategic direction of several products, including mobile and Internet banking.