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Only 17 percent of respondents rated themselves as “optimal” in the execution of their digital transformation strategy. Of those surveyed, more than half rated themselves as only beginning or in medial stages of digital transformation (19 percent and 32 percent, respectively). Similarly, only 16 percent of those surveyed rated their omnichannel strategy “optimal,” meaning that most banking customers are still lacking a unified view of all transaction and customer data across every channel, including web, mobile, ATM and in-branch – inhibiting the overall customer experience.
“Most banks are actively seeking ways to re-invent themselves to better compete in today’s digital environment,” said Eric Crabtree, global head of Unisys Financial Services. “These organizations understand the need to go beyond traditional banking services, however, many are struggling to modernize in the face of archaic processes or legacy systems. Ultimately, an integrated, secure omnichannel platform is critical to enabling banks to deliver a seamless banking experience – a key differentiator, especially for smaller and mid-size banks.”
Security and trust are frequently cited as the main reasons that consumers do not use digital channels to their fullest potential. In fact, security remains one of the top concerns facing the financial services industry; the recent Unisys Security Index™ found that more Americans are seriously concerned about identity theft and bankcard fraud than they are about their own personal safety. It is therefore sobering that only 21 percent of respondents in the survey indicated that their security strategy/implementation is “optimal.”
“At Unisys, we believe that proper security and a good customer experience are not mutually exclusive. Today, banks can incorporate tools like behavioral biometric authentication, which can help verify transactions and users based on individual tendencies like typing speed – helping customers achieve their financial goals however they prefer to do so – securely,” said Crabtree.
