Over the last decade, banks in the Asia-Pacific (APAC) region have accounted for over 46 percent of global banking profits. However, the region now seems to be settling into a new era of slower growth rates and increased challenges in generating significant profits. From a consumer standpoint, Asian consumers are moving quickly into digital banking. According to McKinsey research, there is a 96 percent and 94 percent digital penetration in Australia and Singapore respectively. The same research also states that more than 80 percent would be willing to shift some of their holdings to a bank that offers a compelling digital proposition.
While digital banking has lowered costs and improved customer experience, it has led to the separation between the bank and its customers. Banks can no longer continue to rely on their branch’s personal bankers to assist customers, eliminating previous opportunities to grow revenues and deepen relationships. In essence, there is a missing puzzle piece in today’s banking environment. How do you maintain the digital presence that customers demand while also providing the level of personalized assistance that in-person bankers provide? The missing puzzle piece is the Digital Personal Banker, a digital equivalent of today’s branch personal bankers, that provides the customer support that today’s and tomorrow’s digital banking customers want.
To learn more about how APAC banks can incorporate the missing puzzle piece in their digital banking, join a 7.ai Webinar on Dec 7th, 2016. The webinar will help banking leaders learn:
- What a Digital Personal Banker is.
- How a Digital Personal Banker can reach customers in the digital world.
- How to leverage the Digital Personal Banker to drive the future of customer experience.