Latest opinions that Steve Morgan has shared on Finextra

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Steve Morgan

Banking Industry Market Lead

Pegasystems

Member since

04 Sep 2019

Location

Reading

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Steve's opinions

Constant change is our reality - so how can banks adapt?

We are seeing a state of flux in several areas of banking: customer needs, environmental obligations, banking requirements and more. Until now, it has been a struggle for banks to keep up and manage every single aspect of this transformation – from the individual level right up to the corporate level. For example, the proliferation of government-b...

18 December 2020 /retail /covid-19 Banking Strategy, Digital and Transformation

Can Banks Do More to Support Their Customers Through COVID-19?

In the last few decades, it is easy to generalise that banking has been, like most industries, focused on the quarterly, half, and full-year financial results. While this generalisation is unfair, the pandemic has highlighted that more should, and needs, to be done in terms of focussing on the needs of the customer. The COVID-19 pandemic highligh...

02 December 2020 /retail /covid-19 Customer Service 2015-2019-2025

Despite Tightening Purse Strings, 2021 Will See Banks Embrace Technology Investment

At the outset of 2020, nobody in the banking industry could have predicted the chain of events that would unfurl. But it hasn’t all been doom and gloom – this year has seen unparalleled technological advancement that will undoubtedly benefit both banks’ internal operations and their customers. But will this momentum continue over the next twelve m...

30 November 2020 /retail /covid-19 Digital Banking Trends

Customer Service: How to Balance AI and Automation with Human Touch

If automation is operating as it should, people should not need (or want) to talk to a customer service representative. But what if something goes wrong, or the customer has a complex query? Take the A-level results mishandling in the UK as an example. In theory, the algorithm should have worked, but it didn’t, and hundreds of students had to get i...

19 October 2020 /retail /covid-19 Artificial Intelligence and Financial Services

How Can Banks Improve Their Service This National Customer Service Week?

National Customer Service Week is held every year to highlight the importance of customer service within organisations - this year it is being held from Monday 5th through to Friday 9th October. As it approaches, I would like to consider why brilliant customer service has been so critical for banks this year, as well as how financial institutions ...

29 September 2020 /retail /covid-19 Customer Service 2015-2019-2025

Why banks need to build empathy into every part of their business

During the COVID-19 pandemic, some banks have made it into the press for the wrong reasons – for their poor customer service. In one case, a bank’s customer had passed away after a long period of illness. Her daughter, who had power of attorney, informed the bank of her death and followed up five times to have the funds transferred and old bank acc...

29 September 2020 /retail /covid-19 Customer Service 2015-2019-2025

What Will Banks Accelerate Next In Their Digital Transformation Journeys?

COVID-19 saw banks accelerate their digital transformation plans, condensing them from year-long projects into a matter of weeks. In fact, research from Pega found that the pandemic increased organisations’ urgency for digital transformation, with 91% of all respondents admitting that changes are now needed for their business to survive in a post-...

21 September 2020 /retail Trends in Financial Services

How Digital Can Banking Really Get?

The trend in digital banking is one that continues to build momentum. A widely held belief was that there are a number who resist - generally of the older generation – preferring to stick with more traditional banking. Yet recently, McKinsey research has revealed that consumer preference for handling everyday transactions digitally is as high as a...

02 September 2020 /retail Innovation in Financial Services

The Tug of War Between Traditional and Challenger Banks Continues

With banks and their customers being forced to shift a majority of their activity online as a result of COVID-19, it is only logical that the digital banking experience should get more focus. Now, the race is on between financial institutions to get it right as those who sprint ahead of their peers will be able to use their superior banking experi...

23 July 2020 /retail /covid-19 Trends in Financial Services

Why Capacity and Capability are Banks’ Best Friends Right Now

COVID-19 scattered workforces and business operations virtually overnight. At the same time, the impact of the pandemic has accelerated digital sales and service demand in ways that suggest permanent change. This trend is confirmed by McKinsey which noted that remote advisory channels may be finally coming of age, potentially meaning that up to 35...

07 July 2020 /people /covid-19 Innovation in Financial Services

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