The banking sector in the last decade has undergone a phase of deep transformation mainly due to the rise of electronic payments. New digital technologies have imposed a new mode of dialogue between banking institutions and customers, both in the retail and business worlds.
Recent research by Openjobsmetis highlighted at least 250 large companies in the Fintech world that deal with collection, payment and banking processes. If we add to these the big names of the Tech world (Apple, Amazon, Facebook and Google), which have recently entered the world of financial services, we understand the need for a new business model for traditional financial institutions.
Electronic payments provides consumers with the opportunity to take advantage of a growing number of services in a dynamic and immediate way, bypassing the physical location of the bank, which as mentioned in the past is now forced to question the new ways in which the customer can be satisfied keeping up with the competition.
Speed and flexibility will be the pillars of this revolution. However, the human relationship should not be underestimated. Although we live in a society with a high level of digitization and social networks, the figure of the banking intermediary remains a guiding light for the consumer, who perceives the need to rely on someone, not simply on a smartphone screen.
The right recipe in the near future will be to focus on the search for hybrid professional figures, able to combine the new digital skills with the institutional and trust role that the banking intermediary should hold.