World Retail Banking Report 2019: Banks must collaborate with start-ups to remain relevant as the financial ecosystem evolves

The latest World Retail Banking Report 2019 by Capgemini and Efma makes it clear that retail banks are struggling to deliver a positive last-mile experience as customers demand more comprehensive and personalized banking. PSD2 boosted Open Banking. To take the next step, an Open X mindset is necessary. Banks and new non-traditional players should join forces to deliver banking services that integrate with digital experiences. “Banks that identify their top capabilities and then seek partnerships with FinTechs and other business sectors to enhance their offerings in other areas will be the most successful,” says Anirban Bose, CEO of Capgemini’s Financial Services Strategic Business Unit and Group Executive Board member.

The World Retail Banking Report 2019 outlines where banks are falling behind customer expectations and the steps they need to take to become inventive banks. Key findings of the free downloadable report are summarized in the below infographic.