The world has undergone great changes in recent years, especially in 2020, where due to the pandemic, many of the things done in person had to migrate to the digital sphere, increasing the use of online tools. The banking sector was no exception; this sector had already been preparing to offer digital alternatives to its users, however, with the events of 2020, many of these projects accelerated, giving users the possibility to have an experience each time closer to fully digital banking.

The expectations of the experts

In a panel of experts organized by Adobe company, some influential people from the world of finance and technology gave their opinion about what should be the experience of users in this current and future “rapprochement” with banking. It was mainly mentioned that banks should offer more data-oriented solutions, which allow customers to have all banking operations and all their information in the palm of their hand by using mobile applications and similar technological solutions. Another strategy they propose is omnichannel tools that allow the user to interact with several brands in the same tool; experts argue that “a good interaction generates more trust and loyalty.”

The influence of Fintech

While it is true that banking entities have taken a step forward to modernize their services and adapt them to the current market demand, it is also true that Fintech companies have provided great support to make this a reality, allowing them to give banks a closer experience to users and 24/7 service.

The trend in Latin America

In Latin America, the difference has not been much concerning the rest of the world. According to a study carried out by Americas Market Intelligence and Mastercard; currently, 55% of the population in Latin America have a bank account and of that 55%, half use online banking services; this indicates that banks should follow this trend and offer the users the best tools for online banking, having a digital model without flaws and with more and more facilities for their clients.

Another very marked trend is that of making digital payments; this increased especially with the isolation that occurred during the pandemic where consumers and businesses were forced to migrate to the online world and look for payment alternatives that would facilitate purchases without the need to physically go nowhere, now the challenge will be to strengthen those channels and offer more and more safe and reliable alternatives for bank customers.

What do you think about this topic? What do you think is the future of digital banking?

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