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Weaker Customer Relationships and Competitive Threats From Non-Banks Challenge Retail Bankers Finds World Retail Banking Report 2015

Globe Newswire

PARIS and NEW YORK, April 22, 2015 (GLOBE NEWSWIRE) -- For the second year in a row, improvement in global retail bank customer experience levels has stalled with a decline of less than one percent leaving banks challenged to drive top-line growth, finds the twelfth annual World Retail Banking Report (WRBR) released today by Capgemini and Efma. Stagnating global customer experience levels combined with an alarming increase in customers willing to leave their banks, points to weakening bank-customer relationships and the increased possibility of disintermediation1 by non-bank competitors such as brand-name retailers, FinTech firms, crowd-funding websites, peer-to-peer lenders, Internet/mobile service providers, and Apple NFC-based payment systems. These findings underscore the need for retail banks to make investments to improve customer experience, especially with middle and back offices2, which have historically been ignored and are essential to providing engaging digital services through faster processing times and reduction in errors. The report draws on research insights from 32 markets and global data from over 16,000 retail banking customers as part of its annual Customer Experience Index.

The World Retail Banking Report 2015 Changes in Customer Behaviors34Stage Is Set for Non-Bank Competitors to Gain a FootholdMiddle and Back Offices Need Attention5The World Retail Banking Reportwww.worldretailbankingreport.comAbout Capgeminithe Collaborative Business Experience™Rightshore®Capgemini's Global Financial Services Business®About Efma