Bank of the Future Survey Findings

Thank you for completing the 'Bank of the Future' survey, your input is greatly appreciated. The aim of the survey was to paint a picture of what the bank of the future might look like in order to better understand how we can collaboratively get there sooner. Below are the results - 18 global banks are represented with senior management input. Enjoy the findings and please reach out to Adam Troman (troman@adobe.com) if you wish to discuss these findings further.

All about customer experiences

Over half of respondents stated that Providing consistent high-quality customer experiences was their top priority for the next 5 years

Take this personally...

Half of respondents stated that Data-driven marketing that focuses on personalisation is the most exciting opportunity

Barriers preventing the ability to deliver on future priorities

33% of respondents stated that antiquated core systems are holding them back.

Priorities for end-to-end experience

Multi-channel analytics to better understand the journey is the main initiative that respondents are prioritising to enhance end-to-end experience

What innovations are respondent's organisations offering?

Over a third of respondents are currently offering Instant peer-to-peer payments and Instant spending reports - Intelligent spending reports will be offered to customers in five year's time by nearly 60% of respondents.

What initiatives are respondent's organisations prioritising?

Not one respondent selected wearables as an innovation their organisation is prioritising and only a few selected Mobile Geolocation and Augmented Reality demonstrating that banks are focusing on the quicker wins in the short term rather than investigating more futuristic technologies. Personal Financial Management Tools / Apps and Mobile Wallets are where respondent's organisations are focusing.

Where is the budget going?

Mobile Wallets & Mobile Payments, Personal Financial Management Tools / Apps, Robo Advice / Customer Service, Biometric Authentication and the Branch of the Future are the main areas where respondents budgets will be going.

Any additional initiatives?

Summary: The Bank of the Future will be based around providing outstanding customer experiences by using data and investing in data innovations to understand the customer journey better and to drive personalisation, giving the customer what they want, when and how they want it. To achieve this, banks need to more easily share and use data and update/replace antiquated systems. Mobile Wallets and Personal Financial Tools will help increase customer experiences and deepen relationships.

If you have any questions about this report or wish to discuss any of the contents, please contact Adam Troman, Senior Customer Success Manager, troman@adobe.com, +44(0) 7826 905 434. Thank you.

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