Diebold Nixdorf’s Post

Lloyds bank have announced they are cutting jobs as more of their customers are opting to complete day-to-day banking via more convenient online channels. The bank will shift their focus to supporting customers from branches via virtual methods, such as video calls.   The shift to digital banking is showing no signs of slowing down in 2024, with the majority of millennials and generation Z consumers using mobile banking apps as their number one banking tool. To continue to support their customers effectively banks and FIs will need to be striking the right balance between traditional and digital banking channels. As our Chief Product Officer, Michelle Yu discussed on our latest virtual arena with Fintech Finance, these channels will continue to coexist and need to work in tandem for the foreseeable future. https://lnkd.in/e4pYkqeX

Traditional Banks Go Digital as Neobanks Face Regulatory Heat Regulators are clamping down on neobanks, prompting traditional banks to embrace digital practices. The U.S. is experiencing a market-driven open banking transformation, enabling seamless digital account management and innovative services beyond direct deposits. This shift reduces the need for physical branch visits. With significant consumer adoption of online and mobile banking, banks are upgrading their technology for instant payments and digital account openings. Meanwhile, neobanks face increased regulatory pressure to align with traditional banking standards. #futureofbanking #BankingTransformation #Neobanking https://okt.to/2XKAnf

In an increasingly digital world, you’d think mobile and online banking would make physical bank branches obsolete. But a recent study shows that’s not the case. When choosing banking providers, consumers still care deeply about in-person services and convenient ATM access. https://buff.ly/3uRgbaX #creditunions #communitybanks #branchandATMlocators

By 2026, ATMs are projected to grow 8%, and cash-recycling ATMs are becoming more prevalent. They are bridging physical and digital banking channels and benefiting both FIs and customers, particularly smaller businesses, with cost savings and security benefits. https://bit.ly/3W53OUq #cashrecycling #ATMs #retail #cash #cashmanagement

Traditional banks are adopting digital strategies as neobanks encounter heightened regulatory scrutiny. In the U.S., a market-driven open banking evolution is facilitating effortless digital account management and new services that go beyond traditional deposits, diminishing the necessity for in-person branch visits. With a notable rise in consumer preference for online and mobile banking, financial institutions are enhancing their technology to provide instant payments and enable digital account openings. At the same time, neobanks are facing growing regulatory demands to meet conventional banking standards. https://okt.to/aFPBnH

“Branch of Today (BOT) represents a paradigm shift in how we approach banking where customers can seamlessly transition between digital and physical channels and expect the same level of service and convenience across all touch points.” Richard Macinas Peralta, CXAC (Cert) For the latest updates and insights on the Philippines’ fast evolving digital banking landscape, join us at DigiBank Summit Philippines Edition on 10 July 2024 at Manila. https://lnkd.in/eBjBmd_y #digitalbanking #branchoftoday #futurebranch #digitaltransformation

In an increasingly digital world, you’d think mobile and online banking would make physical bank branches obsolete. But a recent study shows that’s not the case. When choosing banking providers, consumers still care deeply about in-person services and convenient ATM access. #creditunions #communitybanks #branchandATMlocators

Digital banking advancements are taking over the financial services space and revolutionising user experience.   💷💳 Last month, emagine’s CCO Martin Hartley spoke to Fintech Magazine about the risks traditional institutions are facing within the industry and the survival of ATMs.   Read the full article here: https://lnkd.in/ePdqTp7v   #fintechmagazine #banking #atms

“Digital banking offers incredible convenience, but only when it doesn't come at the expense of data security” With the spate of fraud news centered around “frictionless” banking and ease of service, I am beginning to think that customers just want better. The container in which it comes does not matter. So I want quick and easy access to my money and to trust that services are not exploitative but I also want privacy and data protection but I also want to not be scammed or defrauded but not at the expense of coming to your branch every other day and twice on Sundays. 😰 What does personalization really look like? Where it makes financial sense for both customer and service provider? #fintech #proofofhumanity #aiandbusiness #changemanagement

📱Evolving Banking Expectations: From Digital Shift to Open Banking📱 Eric Foust from Trustly reflects on how the pandemic has accelerated consumer demand for banking to match the ease and personalization of eCommerce. This transition, he explains, isn't new but part of a digital shift that began in the 1990s, evolving from online account access to mobile banking convenience. 🌐💼 As part of the "What's Next in Payments" series, Foust discusses the digitization impact on traditional banking, suggesting that brick-and-mortar branches may soon become relics of the past, much like pay phones. With advancements such as biometrics and new payment rails like RTP and FedNow, banking is becoming increasingly frictionless and accessible 24/7. 🏦⏳ However, digital banking still faces hurdles, such as delays in fund transfers to new accounts, highlighting a gap between consumer expectations and current banking capabilities. The rise of open banking in the U.S., facilitated by regulations like the #DoddFrankAct, aims to bridge this gap by ensuring reliable data sharing between financial institutions and third parties. 🚀🔒 In this new era, banks and FinTechs are forming collaborative relationships to combine technological agility with consumer reach, marking a shift from disruption to partnership in the financial services industry. 🤝💡 #DigitalBanking #OpenBanking #FinTech #BankingEvolution #Trustly #PaymentsInnovation https://lnkd.in/et7PTYD7