The Digital Banking Tipping Point
According to Malcolm Gladwell, a ‘tipping point’ is the moment of critical mass, when an idea, trend or behavior crosses a threshold and spreads like wildfire. The COVID-19 crisis is an example of such a phenomenon and so has been the instantaneous impact of this crisis on the digital transformation of banking. Organizations that had not already embraced the entirety of how to become a ‘digital bank’ were caught flat footed as branch doors were closed and customers were required to transact on digital channels. In some cases, accounts couldn't be opened or loan applications taken, In all cases, organizations that had not digitally transformed their operations, products and culture delivered suboptimal customer experiences. We are fortunate to be joined again by one of the foremost authorities on the future of banking, Chris Skinner. Chris is a prolific blogger and he is joining us today to discuss his newest book, “Doing Digital: Lessons from Leaders”. In this episode, Chris capsulizes interviews he did with several of the leading digital banks in the world, providing a detailed guide for those institutions who are now playing catch up.