A survey of over 350 banking executives reveals that the focus on customer service will double by 2020, becoming the top priority for value creation. The report emphasizes the importance of technology in enhancing customer service and encourages banks to streamline operations, collaborate with fintechs, and reset risk priorities for better predictive management. Thriving financial institutions will prioritize customer satisfaction through technological innovations and strategic reorientations.

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Banking industry success:
Build, transform and protect
value into 2020
The Future of Growth and the Banking Industry

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Growth will come from focusing on
customer service
Over 350 banking executives responded to our survey to describe how they are shaping
their companies to succeed in the future.
Leaders are making bold decisions and reinventing their companies to
align with a strategic view of customer service. In doing so, they are
improving processes and business models, exploiting innovative
technologies and collaborations, and recognizing greater value in risk.

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Banking leaders say their focus on customer service
will doublebetween now and 2020.
It will become their No.1priorityfor value creation
in an increasingly competitive environment.
Customer service will be 2020's top value creator

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Competition is coming from industry outsiders
Corporate and investment banks
Wealth management
Retail banks
Respondents who agree that traditional banks will increasingly face competitors from
outside the industry

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Technology will drive customer service
Technology makes fierce competition, e.g., fintechs, Amazon.
Successful banks will use technology to:
• Discover what customers expect
• Deliver on customer expectations
• Transform their business
Build technological
customer service
GET THE REPORT
Reignite Growth in Banking

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Simplify tech priorities
• Streamline platforms so that a coordinated
customer profile — with needs and preferences
— is understood across all functions.
• Automate transactional services and focus
branch staff on higher value-added
activities for greater customer satisfaction
and loyalty.
Build a profile, automate for
satisfaction and loyalty
LEARN MORE
Reignite Growth in Banking

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• Reorient business/operating models
• Review fintech's potential
• Reset risk priorities
Take 3 tech action steps toward transformation

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Through fintech programs, tools and
systems, build your collection of information
about customer needs and preferences, and
use analytics to guide in addressing them.
Reorient the business model
Creating community
Example: Millennials care about
shopping local, e.g., farm to table.
Banks can create a model of
branch to table.
–Tariq Bokhari, CEO and Co-founder, Aggressant, Inc.

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Review fintech's potential
Identification, collaboration, efficiency
• Use purchasing data to identify influencers
— specific groups first to buy new products.
Target them for promoting new initiatives.
• Create new services through collaboration
with fintechs.
• Robotic process automation (RPA) can be
leveraged for manual and repeatable tasks.
With internal processing improved through
RPA, customer services are faster and
available around the clock.
Influencer effect
76% of millennials' decisions are
driven by word of mouth.
Collaboration outcome
After acquiring a group to build
technology for small business loans, a
Boston-based mutual fund bank can
now process a loan of up to $100K in
5 minutes — approved and in the
borrower's account.

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Reset risk priorities
Define your priorities; they drive your
culture and customer benefits.
Prioritizing on customer service allows for
more predictive risk management in
developing valued products and services.
READ THE REPORT
Reignite Growth in Banking
Transform your business to
focus on customer service

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Thriving financial institutions will use the power
of technology to prioritize customer satisfaction
into the future.
Reorient…review…reset…transform

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Learn more
about the future of growth in the banking industry
Reignite Growth in Banking The Future of Growth and
the Banking Industry
Watch the webcastRead the report
4 Accelerating Architectural Trends Are Driving
Industry Disruption
Read the article

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Kat Sanchez
Director
Compliance Risk Management
T +1 703 637 2617
E kat.abuegsanchez@us.gt.com
Tom Joseph
Managing Director
Financial Services
T +1 704 632 3970
E tom.joseph@us.gt.com
Nigel Smith
National Leader
Financial Services
T +1 212 542 9920
nigel.smith@us.gt.com
Vivek Rodrigues
Senior Manager
Advisory Services
T +1 212 542 9980
E vivek.rodrigues@us.gt.com
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