Reinventing banks as lifestyle advisers

Banks are facing increasing pressure for growing their business in the face of the emergence of new competition across all their service areas. The profound changes in consumer behaviour, technological innovations, the availability of a massive amount of data and the connected lifestyle of customers has led to a blurring of industry boundaries. Now we have a situation where a bank is competing with not only other banks but also the e-commerce players, digital wallets, postal services, retailers and technology players. The level of consumer engagement with the brand will be the…

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