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TECH BUYER Aug 2018 - IDC Perspective - Doc # US43347419

2018 U.S. Consumer Banking Channel Preference Survey: Gaps Exist in Retail Banking Customer Journey and Experiences

By: Marc DeCastroResearch Director, Consumer Banking

Abstract

This IDC Perspective discusses the U.S. Consumer Banking Channel Preference Survey conducted among 2,501 U.S. residents who are 18+ and have an active checking account. The role of the customer has continued to take center stage. Banks and credit unions continue to roll out technology solutions and products that have been making life easier, but many consumers are still skeptical.

According to Marc DeCastro, research director at IDC Financial Insights, "The industry continues to provide its customers with outstanding siloed experiences. Tying everything together into a cohesive omni-experience is where we still fall short. Customers are reluctant to give up privacy, even to their trusted financial provider, unless there is a demonstrated benefit. Often times, strategies are misguided and assume certain demographics will respond one way, when in fact they respond the exact opposite way. Understanding how to treat the customer as a market of one as opposed to a demographic category is a big step in bridging the gap between customer expectations and bank offerings."


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