The good news for banks is that there's "pretty shocking potential" for improvement, as Jameson put it.
The average mid-tier regional bank (think about 1500 branches and $10 billion in revenue) can make an extra $392 million before tax from implementing digital reforms, said the report.
That number includes an estimated $265 million from video mortgage and advisor services, as well as $26 million from mobile payment services, among other things.
A number of banks have already internalized and applied the survey's findings, often accomplishing impressive results in the process.
The Bank of New Zealand, said Jameson, "went from seventh in their marketplace to second, based on making people available whenever needed."
The Nationwide Building Society, the largest building society (an institution that provides financial services and is owned by its members) in the world, recently focused increasing its digital services.
In turn, it saw a 60 percent increase in its mortgage business, followed soon after by a 22 percent increase in customer satisfaction, said Jameson.
But perhaps if the success of those institutions is not enough to motivate digitally lagging banks, Cisco's findings will jolt them into life: 65 percent of respondents said they would switch financial institutions for personalized Internet of Everything–enabled services.