How Digital is Driving a New Business Model for Banks

With the increased use of digital channels in today’s financial institutions, banks and credit unions alike need to transition their business model to accommodate the changes.  The digital marketplace shifted the power structure away from the financial institution and toward the consumer, making traditional marketing programs ineffective. All of this is forcing a rethink for many bankers about how much information or interaction needs to happen within the branch vs. online, especially as bankers are learning more about where consumers comfort levels and preferences lie.

Our own Todd Robertson had the opportunity to discuss how the increased use of digital channels has altered how consumers interact with their financial institution and how that interaction has impacted the customer journey, on the Bankadelic podcast. On the podcast, Robertson discusses:

• How the events of the last few months have impacted financial institution’s digital transformation
• The areas that have accelerated as a result
• The role of the branch in this new model
• How to listen to customers and prospects in a digital era
• Why the need to rethink the approach to digital marketing is so important

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