Anyone with a UK bank account will have witnessed some phenomenal changes over the last decade. Retail bank branches have been completely remodelled so that today they act as self-service hubs for busy, self-sufficient customers. But that’s if they even visit their bank at all. A growing proportion of people rarely set foot in a branch, opting instead to bank online, via apps or – as we’re now beginning to see – using mobile payments.
The growing popularity of digital banking is of course having a tremendous impact on retail banks’ underlying network infrastructures. Their customers won’t tolerate any kind of downtime; they expect round-the-clock service availability, that’s quick and secure. Retail bank networks must share these attributes otherwise they risk losing customers.
In a marketplace with more and more competitors, where it’s becoming easier to switch accounts, network speed, availability and security has become an increasingly high stakes game.
Our new eBook – Retail Banking Network Infrastructure: The Four Forces of Change takes a look at the rise of digital banking and how it is putting banks’ network infrastructures under unprecedented strain.
It also discusses a number of other trends that should make retail banks completely re-think how they design and build networks. These include increased market regulation and competition, as well as the widespread adoption of technologies such as virtualisation and orchestration.
The eBook concludes with a seven point plan to help banks come up with a connectivity strategy that can cope with what tomorrow brings.
How has your connectivity strategy changed in line with these trends – is your retail bank ready for the four forces of change?