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Ok. Got itWith changing client needs and ongoing digitisation, what trends are shaping the future of banking?
By Brian Sentongo, Head: Banking Product and Packaging
There are several trends shaping the future of the financial services sector. For this article, we chose to focus on three to look forward to.
Trend one: Personal financial management tools |
The main goal of personal financial management (PFM) tools is to give clients a better understanding of and more control over their financial lives. In the past, the adoption rate of PFM tools was low.
However, changes in the financial services industry, informed by client needs, have resulted in banks taking a fresh approach to their PFM tool offering. Today’s PFM tools are significantly enhanced.
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Trend two: The rise of ecosystems |
Banks are becoming the centre of a more holistic client financial ecosystem. Banks are expected to fulfil multiple roles in their clients’ lives.
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Trend three: Omnichannel client experience |
An omnichannel client experience provides seamless integration across service channels. A seamless client experience is a major focal point for all financial service institutions as they continuously strive to enhance their offering and to meet their clients’ changing needs. However, a true omnichannel client experience can be quite a daunting task to get right, since there are a countless number of moving parts. |
We are continuously looking at ways to improve our clients’ experience and to introduce relevant products and services.
At Nedbank Private Wealth, we are continuously looking at ways to improve our clients’ experience and to introduce relevant products, services and digital solutions to connect our clients to more. One of our most recent additions is Avo by Nedbank – the super app that has everything you need to facilitate your lifestyle needs, including e-commerce deals, groceries, professional home services, prepaids, holiday bargains and digital home entertainment, to name a few. If you are an existing client, you have free access Avo.
Click here to find out more and download the app.
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