How the banks can reach this target would be challenge to be addressed by the banks. 6. I would pose a question here: What came first in this chicken and egg argument – technology or customer demand for technology? Does technology change customer behaviour or is it customer demand that influences technology in banking.
In the earlier days, it used to be said about banking that: “build it and they will come”. However this will not hold well in the present day. Technology should work for the business in its aim to make its products and services relevant and accessible to its customers, instead of a fixed sunk cost that sits heavily on a bank’s P&L account.