5-Aug-14
When Britain's first telephone bank opened in 1989, it claimed to be from the future. In the introduction of television advertising logo of First Direct, a hologram med woman beamed from 2010, seemingly indicating that the 24-hour call center, will replace when bank branches.
After twenty-five years - with the traditional branches still exist - the lender claiming a new revolution. They say that digital technology is driving the biggest changes in decade’s consumer banking.
Soon, they say, the bank will be able to track customer information in real time and provides shops, they are gone, or transportation services, they will be used to bomb them. Before technology will enable banks to provide loan products, customers have decided to purchase them; identify customers the moment they walk into a branch; without the buyer's payment process never have to come up with their wallets.
"We are in the middle of a change," branch executive director of Victor MATARRANZ, Santander UK, the Bank of Spain to Britain. "Some people say that there have been prior to this period - just like in the early 2000s came the Internet, however, this time it is different from more technologically advanced than ever before are moving an entire generation.."
The change is fueling the rapid rise through mobile banking, through smart phones in developed markets almost everywhere enabled.
From a report in Business Administration, banks trade associations, and consulting firm Ernst & Young found that only deal in the UK, mobile and Internet almost £ 1 billion every day in the process. In 2014 more than 15,000 people a day were downloaded in the UK banking applications and contactless card spending is expected to nearly double. Using both traditional branches has fallen sharply.
As banks scramble to keep up with Google and Facebook likes pace, technology experts say, it is often the smaller lenders, or those who are forced to reinvent themselves in a financial crisis, has advantages.
"Spain is a very innovative," Alex Bradley at Misys companies, financial software company said. "Many banks have had near-death experiences, so that pushed offer something different."
Likewise, he said, niche bank tried to differentiate them to provide better service to customers.
Benign prostatic hyperplasia and Getin Bank, two Polish banks, have introduced high-tech cash machine; identify customers by scanning the unique vein pattern at their fingertips. The system has been established in Japan, is considered more reliable than a simple fingerprint. Spain's CaixaBank is by distributing 15,000 wristbands embedded payment technology, enabling customers to contact to buy from multiple debits or credit card did not take his wallet to promote the "wearable Bank" trend.
It also created a Google application of glass, with a branch finder and currency converter.
In the UK, where the proportion of the four banks to control the abnormally high bank accounts - at least 70% - and not have to spend most of the IT budget is not a reliable upgrade existing systems, experts say that innovation is not advanced enough.
Recent changes include allowing customers to use the service recipient's phone number only immediate payment of the text. Plans are underway to make the retail and small business customers buy them through smart phones, send them, rather than a branch line check payments. Meanwhile, Barclays launched a voice biometric technology to save customers time-consuming security checks.
"There has been a lot of innovation in the UK, but it does not really take off yet," Mr. Bray said. "These services require a lot of investment has been widely adopted and has not been promoted hard as they can."
He said that innovative technologies, such as voice biometrics and wireless network branch "is hard to shake the world."
However, banks and other predicted dramatic changes in the UK in the coming years. They want big development in the region, such as contactless payment, pay as wearable devices, such as wristbands and watches were improved security, banks use biometric screening customers instantly.
Analysts say there are plenty of banks acquired from the switch to digital, from automation services not least cost savings.
"As the financial crisis and more stringent regulatory compliance costs have gone up, but the direct consequence is that the cost basis of the traditional suppliers has been resolved," Omar Ali, head of the UK banks and capital markets Ernst & Young said.
In addition, the customer's bank data access means should be better able to sell a more efficient manner.
However, with the development of the banking market, the lender faces competition from outside the industry, such as the growing threat of Google and Facebook - which has been poured into, such as payments and mobile payments - and peer lending.
"The potential of many retail financial firms have not yet mastered the digital interference," a Forrester Research analyst Oliwia Berdak said.
These high-tech clothes can put the bank's attempt to innovate in the shade. Ms. Berdak said that Google's love "with digital technology to provide a better or new to meet customer demand, often bypassing the regulatory and redefine a given process of industrialization in the way."
But she - and the industry at large banks - Discount Google launched a full-fledged bank, given the cost, regulatory requirements, and its advertising revenue from financial services clients’ idea.
Perhaps a bigger challenge for banks is to work out how to use customer data without disturbing them by the violation of their privacy.
Lenders believe that customers are generally familiar with the technology, saving their time, such as biometric identification or contactless payments, or reduce fraud. But they worry about more in-depth action, such as smart phones, real-time tracking rebound.
"We cannot just assume that customers want to share their lives with the fact that our intimate details," Simon McNamara, IT Royal Bank of Scotland, who is responsible for representation.
Similarly, Barclays admitted that it had not yet come will ensure that customers have access to their power fall to the bank in real time.
Steve Ellis, wholesale services, Wells Fargo, the official said, the lender must seek permission customers, they save the data on them. "Here's the impact of this 'Big Brother' may be a little scary," he said. "The amount of information you can get from a phone - it can definitely disturb people."
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