- “Forrester predicts “as many as 20 percent of the Fortune 500 are not going to make it through 2021 whole.”
- Banks must embrace the four ‘big tech’ trends that influence customer demands, including the growing expectation for a better banking experience.
- Strategy 1: Big Data — Implementing a big data strategy into the institution’s overall strategy is the first step in the bank’s ability to practically access, analyze and apply insights to their customer data.
- Strategy 2: Business Intelligence (BI) — Thinking one step further, this strategy changes the way banks process customer data, leveraging existing data and turning that data into actionable insights.
- Strategy 3: Artificial Intelligence (AI) / Machine Learning (ML) – Deloitte reported, “86 percent of financial services AI adopters say that AI will be very or critically important to their business’s success in the next two years.”
- Strategy 4: Social Media Visual Content — Social media has become ingrained in consumers daily lives, so it’s no surprise that harnessing the captivating power of interactive, visual content has become a part of almost every successful business — using social media-inspired visual content to broaden reach and deepen user engagement.”
