The impact of digitalisation on the banking sector (and its customers)
Posted: Sun Dec 15, 2024 9:58 am
We explain the impact that digitalisation is having on banking sector customers.
Learn about the new opportunities for companies arising from the digitalization of the banking sector.
The banking sector is undergoing a constant restructuring process to improve its efficiency and operations . Digitalisation is accelerating the closure of branches in our country, affecting employees in the sector and users of financial institutions.
Since the peak of bank branches in Spain reached in the third quarter of 2008, with 45,707, their number has fallen steadily. In March 2022, the number of banking entities in our country stood at 18,794.
The impact of digitalization on the banking sector
The digitalisation process has been accelerated by the pandemic and has affected both employees and customers. As regards the former, it has been made easier finance and banking email list for employees to work remotely from anywhere.
As far as customers are concerned, financial institutions have sought to ensure that their clients could continue to operate normally, so that currently most banking transactions are carried out in a digital environment . In addition, more and more users are using financial institutions' apps.
But the impact of digitalisation is uneven, as it has its positive aspects, but also its negative aspects. On the negative side, there are layoffs, early retirement of employees and the problems of the elderly in adapting to the digitalisation imposed by financial institutions.
The positive side is that the sector is opening up to new companies such as fintechs . In addition, thanks to open banking, banking operations for its users are being modernised and made much easier.
The resistance of the elderly to the digitalisation of the banking sector
Underestimating people's resistance to change is a mistake that business and country leaders often make. This mistake has been repeated when it comes to trying to digitize older users of banking institutions.
The campaign “I am older, not an idiot”, launched on Ch
Learn about the new opportunities for companies arising from the digitalization of the banking sector.
The banking sector is undergoing a constant restructuring process to improve its efficiency and operations . Digitalisation is accelerating the closure of branches in our country, affecting employees in the sector and users of financial institutions.
Since the peak of bank branches in Spain reached in the third quarter of 2008, with 45,707, their number has fallen steadily. In March 2022, the number of banking entities in our country stood at 18,794.
The impact of digitalization on the banking sector
The digitalisation process has been accelerated by the pandemic and has affected both employees and customers. As regards the former, it has been made easier finance and banking email list for employees to work remotely from anywhere.
As far as customers are concerned, financial institutions have sought to ensure that their clients could continue to operate normally, so that currently most banking transactions are carried out in a digital environment . In addition, more and more users are using financial institutions' apps.
But the impact of digitalisation is uneven, as it has its positive aspects, but also its negative aspects. On the negative side, there are layoffs, early retirement of employees and the problems of the elderly in adapting to the digitalisation imposed by financial institutions.
The positive side is that the sector is opening up to new companies such as fintechs . In addition, thanks to open banking, banking operations for its users are being modernised and made much easier.
The resistance of the elderly to the digitalisation of the banking sector
Underestimating people's resistance to change is a mistake that business and country leaders often make. This mistake has been repeated when it comes to trying to digitize older users of banking institutions.
The campaign “I am older, not an idiot”, launched on Ch