highlights the importance of focusing on the clients rather than solely on technology. While technology is rapidly advancing, the pace at which customers adapt to these changes is slower.
The key points include:
Clients-Centric Approach: The transition should begin with a deep understanding of the traditional banking clients. The emphasis is on familiarity with traditional banking, knowledge of various consumer types and market segments, and understanding customer preferences.
Technological Learning Curve: Although the clients may be slow to adopt new technologies, there is a recognition that they are gradually learning. The pace of learning is slower than technological advancement, requiring a strategic approach to bridge the gap.
Segmentation for Transition: The transition to digital banking should involve bridging traditional banking to a digital banking zone. This includes accurately segmenting users based on factors such as income, potential, age, and degree of technology use, etc
Dedicated Treatment for Niches: Different niches within private customers (based on income, age, technology use, etc.) and commercial clients (micro businesses, seasonal businesses, etc.) should receive distinct and dedicated treatment. Each niche requires a different customized strategy.
Revolution Through Familiarity: The goal is a revolution in banking, driven by a change in public tastes. The emphasis on familiarity with traditional banking, a thorough understanding of the customer base, precise segmentation, and developing a dedicated customer acquisition strategy are crucial to achieving the goal.
Technology as a Given: It is acknowledged that technology will continue to exist and evolve. The focus is on the clients and their preferences, with the recognition that price is not the sole parameter influencing customer adoption.
In summary, the leading point of view is focused on friendly and advanced technology to transition clients from traditional banking to digital banking but in my opinion, the main point must take the need for a thoughtful and client-focused approach in transitioning from traditional to digital banking, with a keen understanding of customer behavior and preferences guiding the evolution of banking services.
Yaron peretz
ex-senior manager in bank Leumi
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