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Last month, we published the first in a series of posts from a recent survey we conducted of financial decision makers, covering the state of the industry and what external factors are affecting 2011 business decisions. In the last post, we discovered that times are still grim in financial services – the recession and lost revenue due to financial regulation are top of mind as banks move through 2010 into 2011. However, these challenges are spurring innovation, driven by new technologies that are creating opportunities in new areas.
Banks are looking to new options, technologies, and improved customer touch-points to make up for lost revenue and customer count. Developing new revenue streams, improving customer satisfaction, and increasing customer acquisition and retention rates all ranked high as key objectives for 2010/2011.
