Recent technology developments have radically changed customers’ expectations. Today’s customers expect to be able to access the services they need anytime, anywhere and on any device. Moreover, they require the products and services they are offered to be tailored to their needs.
The financial industry is changing as well, with banks having to compete with the likes of PayPal for customers’ attention. However, the problem is that financial organisations lack the flexibility of online payments providers. Old legacy systems, siloed IT infrastructures and heavy regulatory pressures are just a few of the challenges facing today’s banks in their quest for attracting new customers and achieving business innovation.
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