For over 15 years, RedPort has been working with financial institutions in the US, Latin America and Europe to understand and define what “the Financial Institution of the Future” will look like. While many models may emerge, we believe they will all incorporate significant elements of the following 6 attributes:
- They will be customer-centric, assembling a curated selection of financial (banking, insurance and wealth management/ pensions) products around a carefully orchestrated value proposition
- Digital channels will reign
- Data will drive every decision
- Manufacturing will increasingly separate from distribution
- Customer Experience (not products) will drive operating models
- Company cultures will be designed to foster an energetic, analytical, empathetic, and collaborative approach to target customer segments
To read more about the financial institution of the future, download RedPort’s Whitepaper here.