09:25 uur 30-09-2021

Mensen, niet producten, zijn de toekomst van het bankwezen, vindt Economist Intelligence Unit Report voor Temenos

  • Vier op de vijf (81%) banken willen differentiëren op klantervaring in plaats van producten
  • Het beheersen van zowel klantervaring (30,5%) als digitale marketing (28,5%) worden gerangschikt als de belangrijkste strategische prioriteiten voor de komende vier jaar
  • Enquêterespondenten over de hele wereld beschouwen microfinanciering voor ondernemers (34%), deposito’s voor niet-bankieren (33%) en verantwoorde leningen aan bevolkingsgroepen met weinig banken (32%) als topacties om financiële inclusie en empowerment te bevorderen

GENVE, Zwitserland–(BUSINESS WIRE)– Een nieuw rapport van de Economist Intelligence Unit dat vandaag is gepubliceerd door Temenos (SIX:TEMN), het banksoftwarebedrijf, onthult dat vier op de vijf bankiers (81%) van mening zijn dat financiële instellingen zullen proberen te differentiëren zichzelf in de komende vier jaar op klantervaring in plaats van op hun producten en diensten. Het rapport onderstreept het belang van klantervaring, aangezien veranderingen in het bankgedrag van klanten als gevolg van de pandemie structurele veranderingen op de lange termijn veroorzaken.

People, Not Products, are the Future of Banking, Finds Economist Intelligence Unit Report for Temenos

  • Four in five (81%) banks seek to differentiate on customer experience rather than products
  • Mastering both customer experience (30.5%) and digital marketing (28.5%) are ranked as top strategic priorities for the next four years
  • Survey respondents across the world are considering microfinance for entrepreneurs (34%), deposits for the unbanked (33%) and responsible lending to under-banked populations (32%) as top actions to promote financial inclusion and empowerment

GENEVA, Switzerland–(BUSINESS WIRE)– A new report by the Economist Intelligence Unit published today by Temenos (SIX:TEMN), the banking software company, reveals that four in five bankers (81%) believe that financial institutions will seek to differentiate themselves on customer experience rather than on their products and services in the next four years. The report underscores the importance of customer experience, as changes to customer banking behavior triggered by the pandemic create long-term structural changes.

The report, titled “Demanding More”, is based on a recent global survey of 305 senior banking executives conducted by the Economist Intelligence Unit (EIU). The report highlights how financial institutions have been forced to adapt to the sudden movement of customers managing their finances online, which has proved beneficial to digital-only banks. As an example, as of January 2021, 14 million British citizens (27% of UK adults) had a digital-only bank account, representing a 16% growth from January 2020 and an increase of 3X compared to January 2019.Almost three in four (71%) global respondents expect cash to represent less than 5% of all retail transactions globally by 2025.

The shift towards online banking has highlighted the evolution of how financial institutions manage relationships and the demise of the traditional branch. Global banking executives’ top strategic priorities are all customer-focused. Improving customer experience and engagement, including personalization and intimacy, was viewed as the top strategic priority by 30%.

The report further reveals that consumers, particularly Millennials and Gen Z, are increasingly demanding that companies follow responsible business practices. This is leading to business engagement with issues that are important to consumers, such as combating climate change and promoting diversity and financial inclusion. Additionally, banking executives are prioritizing the financial empowerment of their customers. Findings show that around one in three financial institutions are considering growing microfinance for entrepreneurs (34%), deposits for unbanked populations (33%) and responsible lending to under-banked populations (32%) in the next one to three years.

Joaquin de Valenzuela Muley, SVP & Busines Line Director – Temenos Infinity, said: “Banking is a very human experience, and yet for so many, banking doesn’t happen the way we live our lives. In today’s world, the relationship financial institutions have with members or customers is more critical than ever. Banks are moving their customers from physical into digital channels and the winners will be those who can inject intimacy into those channels. Banks will need to provide a digitally-driven customer experience in assisted channels and online – offering advice, value-added services, and ‘always on’ banking, helping individuals, families, and businesses to meet their dreams and aspirations. This report showcases what should have already been obvious: banking is about the people, and the products need to reflect that.”

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About Temenos

Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.

Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.

For more information, please visit www.temenos.com.


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