CSI has released their Banking Priorities Studay for 2017, and as usual, there’s some great info in there. Top priority – making money. Good to know. Top challenge – creating a seemless omnichannel experience for their customers. Right on!
“Each year, CSI assembles its Banking Priorities Study–a benchmarking survey in which banking executives from across the country share their thoughts on a range of topics to shed light on their strategies and plans for the coming year…..
The study always sheds light on the most pressing issues facing the industry at that particular point in time: Four years ago, a good portion of the respondents indicated a growing confidence and comfort in cloud adoption, which was just coming to prominence at the time. And last year, respondents ranked mortgage-related regulations as their greatest compliance concern heading into 2016, as banks were busy digesting the Consumer Financial Protection Bureau (CFPB)’s final rule on the Home Mortgage Disclosure Act (HMDA).
And this year’s study is no different.
When asked about their greatest challenges going into 2017, a whopping 72 percent of respondents said driving growth and profitability was their greatest challenge–up from 29 percent last year. This question was setup a bit differently than in past surveys, as CSI supplied answer choices for the first time, which included driving growth and profitability, mitigating fraud/cybersecurity and managing compliance………
Accordingly, there seemed to be a pervading focus in this year’s study on creating an omnichannel experience from all respondents. In fact, almost a quarter of respondents (23 percent) listed pursuing an omnichannel experience as their biggest challenge in 2017. This is a very telling statistic in regard to the strategic road map that banks could follow in 2017, as the notion of omnichannel banking to improve customer experience figured prominently in responses throughout the report.”