Not in the Six Million Dollar man sense! This report from Boston Consulting Group outlines that for retail banks to significantly improve their performance, they should go "bionic". The headlines are things that Pega supports banks do every day - reshaping the distribution model, personalising customer interactions, and adoption of a customer journey mindset.
Read the full report - it's well worth it because beyond the headlines there are some intriguing statements:
- The risk of disintermediation from third parties if banks fail to seize opportunities presented by regulation.
- How much people trust their bank - a perhaps startling 68% say they're only comfortable sharing financial information with their bank, although perhaps an equally startling 1% have shared their internet banking login with a non-bank service and been happy to do so!
- The number of people who say they have a digital-only relationship with their bank - an amazing 76% in the Netherlands! I certainly see myself as among the 47% who say this in the UK.