Recognising the significant challenges and opportunities facing the finance and banking sector, the first deep dive of ThinkTV’s The Future Series takes a look into consumers’ relationships with banks.
Based on a survey of more than 1,000 Aussies, the researchers at Hoop Group found that the finance industry is headed for a period of major change as it looks to rebuild trust with consumers.
The Future of Banking Study reveals that the industry is at a unique juncture; brand reputations have been tarnished and the consumer behaviours of old are being challenged by a triple threat:
New regulation
resulting in open banking
Changing preferences
pushing back against historical process
Emerging technology
allowing for new products & new types of banks