To Stand Out, Focus on the Digital Experience
Can a financial institution gain competitive advantages just by offering a mobile app, tablet banking or the latest digital innovation? Not necessarily, says Matt Wilcox, managing director, Marketing Strategy and Innovation, Fiserv.
Offering digital services will not impress your customers. All it does is confirm that you’re in the 21st Century.
"Offering digital services will not impress your customers," he says. "All it does is confirm that you're in the 21st century. Merely offering what every other bank offers does not set you apart."
To avoid settling for parity status, Wilcox says financial institutions should focus on the complete digital experience – a topic he tackled with financial services strategist Jim Marous in a presentation at the Digital Banking Summit 2014.
For highlights, read his blog "Avoiding Digital Banking Parity" on The Financial Brand.