Recapping Future of the Bank Account Roundtable
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Celent have reviewed this profile and believe it to be accurate.
19 October 2013Daniel W. Latimore
We just assembled a group of UK retail bankers for a discussion on The Future of the Bank Account. Against the backdrop of the month-old implementation of the directive that bank switching be seamlessly completed in seven days , banks were keen to understand the implications of changing consumer needs and behaviors, evolving regulations, and new competitors. Celent see a consumer’s bank account serving three main purposes:
- Receiving funds (money in)
- Storing and Managing funds
- Paying funds (money out)
- Perceived fairness
- Value added services