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This Year and Next, It's All About Security

By James Wester

There are certainly plenty of stories to populate a year-end review of the payment space, but one topic dwarfs them all: security.


Photo of Marc DeCastroOffline

For years, bankers have been quick to differentiate themselves based on their level of customer service. A superior level of customer service inevitably leads to a more satisfied customer and a deeper level of loyalty. While no institution strives for poor customer service, those that have spent the time to listen to their customers and invest in systems that improved customer relations have found themselves in a better position over the competition. It has been a relatively simple formula, until the customers started dictating how they defined customer service and came to have ever-changing expectations for the financial service industry.

Customer service has evolved around the human interactions aspect, and the physical channel (branch, call center, ATM) will continue to be an important component of the customer experience. How quickly are calls answered and issues resolved? What feedback do we get from customers when they interact with the branch? How well do our sales associates do on our mystery shopping expeditions? All these factors for success require that the employee is fully educated, is well spoken, and provides the customer what he or she needs to complete a transaction or resolve an issue. Why then has the industry not embarked on the same quest to make the digital channels as satisfying? By digital channels, we are referring to the bank’s website, online banking and bill pay, and mobile and tablet banking.


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  • 50 to 60 Billion Dig…
    Michael Versace says:
    This just popped up again.  Am interested in updating this forecast.  Would anyone be interested to renewing the model?
    2 months ago
  • 50 to 60 Billion Dig…
    Michael says:
    25% and we're there, mark of the beast. Finally! 
    2 months ago

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