Jetpacks. Coming Soon! – the Slow Shift to Individualized Banking Solutions

10. January 2018.

It could also mean that the banks are focused on their own issues — streamlining processes, reducing costs, and using data to pitch more products more accurately to consumers — creating a faster horse rather than developing something customers want, such as an automobile.

Missing among all the technical talk to AI, APIs, machine learning, big data and analytics was any sense of the customer, especially any sense of the customer as an active agent, or a larger view of the purpose of financial services in an individual’s life. My feeling, reading the report, is that banks and other financial institutions (FIs) are scrambling for better ways to push products at customers.

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