Latest Banking
- UK Finance sets out future model for Open Banking
- Cyber crime now the biggest threat to banks-CSFI’s Banana Skins poll identifies top risks in banking world
- UK finance industry and police team up to stop over £45m of fraud in 2020
- Moneyfacts reflects one year on from the financial shock of the pandemic
- OakNorth Bank completes £10m property investment facility with global investment manager, L1 Capital
- Kalifa Review of UK FinTech published
- Santander reports Five Polish startups already selected in the fourth round of acceleration programme conducted jointly with Accelpoint expired
- Impact of APIs on digital banking discussed expired
- Nickel Digital research indicates that wealth managers are increasingly focusing on Bitcoin expired
- Nuapay extending open banking payment capabilities to German and Italian banks expired
- Paymob announces new channel partner Tæpp AS expired
- Fidor Solutions partners with SIA to launch instant payment service in Europe expired
22nd January 2021
Teleperformance comments on UK bank branch closures and digitisation
Trend
HSBC is to close 82 branches in the UK between April and September this year, it was revealed this week.
The face of banking has transformed beyond recognition in the past year, with nearly three quarters(73%) of UK consumers now using digital banking channels weekly, causing bank branches to close at an alarming rate of 55 every month.
COVID-19 has triggered banking institutions to reimagine their digital strategies with the aim of futureproofing themselves in a challenging pandemic environment. Those who struggle to digitize will be left behind, as only 28% of consumers admit they expect to return to branches post-crisis.
Phil Jones, Senior Vice President of Banking at Teleperformance(CAC $17bn), believes the next challenge for banks, competing in the digital race, will be to sustain a human connection with their customers virtually.
He comments “In this hyper-digital age, being human still plays an intricate role in the banking industry. It raises the question of how can financial institutions leverage technology without losing the human element. The need to find a solution is more prevalent than ever. The most strategic move banks can make right now–to differentiate themselves against disruptors–is to implement a High-Tech, High-Touch to customer service. They need to master a balance between tech-smart support and the human touch to ensure even the most sensitive financial matter is dealt with appropriately, on the channel customers prefer, maintaining a dedicated level of empathy where necessary. Only then, can banks create a fully-rounded digital experience, fit for meeting the expectations of tomorrow’s customer.”
Teleperformance Group is the global leader in outsourced customer experiences, working with 10 of the top 20 banks in the world to minimise the impact of COVID-19 and provide elevated customer experiences.
Teleperformance Trends(5 articles)
Market information & research(3913 articles)
