Disconnected banking in a connected world
Since technology first appeared in the financial world, we have worked harder and harder to use automation to reduce costs and increase efficiency. We successfully made the back office a processing machine, whilst trying hard to create a front office where customers serve themselves.
Well, we have succeeded.
We have managed to get customers out of branches and transform them into data entry clerks, who serve themselves through ATMs and the internet.
However, what this has resulted in, is disconnected banks. Banks have disconnected from relationships, and are perceived to be ‘faceless’ and ‘remote’.
Are we really disconnected banks?
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