Is digital transformation ruining the banking customer experience?

Old Bank Sign

The number of UK bank branches has halved since 1998, with just 8000 surviving this ongoing cull according to this piece in The Times.  Lloyds will soon add to the tally by closing a further 200 branches next year, stating that customers now prefer to bank online.

Disruptive innovation more important than cost savings

Growth, performance and disruptive innovation are now more important than cost reduction and financial management.  271 company directors polled by Deloitte say the risk of losing business to competitors and the speed of digital transformation means that disruptive innovation has diminished the importance of cutting costs. 

Digital transformation failings dent UK world standings

UK Flag Computer Keyboard

Businesses struggling with digital transformation adoption are causing the UK to lose its leading global technology position.  Research from the CBI (Confederation of British Industry) and IBM says that while the UK is the leading country for e-commerce and fifth for overall availability of technology, it ranks just fourteenth for introducing digital technology at a company level.