A few weeks back we listed four reasons why banks need to change their marketing strategy. In its core those reasons all come down to one problem: Technology makes the physical experience of personal banking redundant, and banks are stripped down to the mere essentials. Unfortunately for the banks, a lot of startups have appeared that offer financial services far superior to what banks offer these days. Market research powerhouse Nielsen has posted an interesting video interview with Alok Gupta, a principal at The Cambridge Group, on the challenges financial institutions face in the current transitional phase from human interaction to remote access.
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