Digital Automation and Customer Experience Developments Pressure Legacy Banks

Newer Financial Platforms Invest Heavily in Automation, CX

Digital Automation and Customer Experience Developments Pressure Legacy Banks

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Pressure continues to increase on retail banks to provide customers with a seamless and enjoyable digital and voice automated experience. First, SAS studies show that more than 7 million people, or 12% of all UK banking customers, started using a digital service for the first time since the pandemic and 25% of UK-based customers plan to never set foot in a local branch again.

Then, Coinbase reveals its has increased its support staff headcount by 5x and that it will deliver 24/7 phone support and live messaging by the end of the year. It also announced the acquisition of customer support platform Agara, an AI-powered support platform with operations in the India and U.S. New platforms supporting emerging technologies like crypto double down on creating a great experience, banks are attempting to play catchup.

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