While costs continue to be driven by regulation, there is no shortage of investments needed to compete effectively in retail banking markets. But banks are resilient and resourceful. The balance between spending on regulation and on marketplace initiatives is not only necessary but it is possible. Customer experience initiatives can align with compliance mandates when a measured approach to spending is used as demonstrated by the banks in our recent report, The Important vs. the Urgent: Balancing Customer Needs and Regulatory Mandates through IT. And more can be done as newer modes of service delivery become available, including cloud on demand services.
To learn more, CEB Retail Banking and Cards members can access, The Important vs. the Urgent: Balancing Customer Needs and Regulatory Mandates through IT.