2020 started much like any year, with financial institutions (FIs) focused on growing accounts and deepening relationships while emphasizing the advantages of digital services. With little warning, even the most reluctant retail banking customers found themselves in need of digital banking services to help them adapt to a new environment.
Digital will lead 2020 trends
As we move into the second half of 2020, demand for digital banking services will grow, especially as account holders become more accustomed to the digital banking ecosystem. A recent article published in The Financial Brand shares ten expected retail banking trends for the remainder of 2020. Q2’s offerings are relevant to the trends lined out in the article, as we deliver software designed to create meaningful financial experiences and support lasting customer relationships.
Significant trends mentioned include:
- Improving data analytics capabilities and use of insights
Before the coronavirus pandemic, in-branch visits were already declining, making it imperative to build and deepen account holder relationships in the digital channel. Now, it’s more important than ever. Q2 solutions, such as the Q2 SMARTTM targeted marketing campaign platform and simple, fast cloud-based solutions, provide just those sorts of capabilities. - Increasing commitment to innovation
As the industry continues to redefine itself, it’s essential for FIs to innovate at a constant rate. Q2’s commitment to research and development—as well as open-API products that empower FIs to design modern financial products themselves—makes innovation a company standard. - Simplifying the customer journey
With more account holders turning to digital, they’ll expect a product ecosystem that works elegantly and effortlessly. Taking a holistic approach, Q2 provides solutions to help FIs balance operational needs with account holders’ growing and evolving expectations. Q2 is focused on making FIs the ever-present companion on their account holders’ lifelong financial journey.
Read the full Financial Brand article – Top 10 Retail Banking Trends and Priorities for 2020. Then, discover the ways Q2 is providing digital solutions in the retail arena that reflect the trends mentioned in the article.
