Australian banks retain digital leadership
Australian banks continue to excel in digital account opening capabilities compared to their North American and European counterparts, according to the third annual Avoka Digital Sales Report that assessed the 50 largest banks in these regions.
The study analysed the breadth of offer and ease of use of the online platforms, with 11 Australian banks evaluated in the report.
Every region showed noticeable progress in the digital business banking sector, with worldwide increases of 300 per cent for online sales readiness, reflecting the growing importance of improving customer experience.
Chief executive of Avoka, Phil Copeland, said the report showed that banks have accepted that online account opening is a “must have”, and the focus is now on whether the largest banks could transform their entire customer engagement across all product lines.
“Australian banks have led their global counterparts in offering digital sales in the past three years we have conducted this study, and the leadership continued in 2018,” said Copeland. “For personal banking, nearly every flagship product ranks high in quality of experience.”
Copeland said while Australia was leading, the other regions were catching up.
AUTHOR
Anastasia Santoreneos
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
