Digital Banking 2023 Report
Now that banking customers in the Australia are becoming digital-savvy, what's your business strategy to grab this opportunity? Any technology trends that you should adopt to improve customer experience?
In the last five years, digital banking in the ANZ region has taken off at a remarkable scale. Understand the concern of businesses, KSM Solutions has produced Digital Banking Report for the Australian market report to help you:
- Deliver seamless banking experiences and stay ahead of the digitalisation trend.
- Get the right technology strategy to improve your financial software.
- Upgrade your software development team's knowledge in this industry.
Striving to lead the digital transformation race? Get business insights on the latest tech innovations and market trends with data-driven research.
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* By clicking on the submit entry button and submitting this form you will be indicating your consent to receiving our service consultation and marketing materials.
Today's Customer Expectations
Rapidly changing customer preferences and expectations have driven consumers’ openness to digital banking. 63.6% of Australians of all ages are choosing online banking and apps for most of their banking activities. Analysing customers' behaviour, there are some highlights:
- 650 electronic transactions are made per person on average.
- 67% of Australians rated security as one of the top aspects when choosing a financial service provider.
- The rising demand for personalisation offerings (91%).
- Open Banking powered products and services are demanded.
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Challenges in Digitalisation
Incumbent banks were structured in rigid top-down hierarchies with siloed teams and bureaucratic middle management structures. Nonetheless, digital transformation has disrupted this paradigm, forcing organisations to empower multidisciplinary teams that can offer end-to-end solutions for business challenges.
Banks have been at the forefront of this transformation as digital rivals have pushed them to commence ambitious digital initiatives.
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69% of Australians believe that having the latest technology is a crucial factor when selecting a bank for financial services
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Contact Us
Jeremy Thomas
KMS Solutions ANZ Program Director
We're a trusted partner for businesses' innovation journey
With 13+ years of experience in successfully helping digital banks excel across the world, and 3 ODCs operated in the Asia Pacific, KMS Solutions can leverage our global expertise and professional perspectives to be all companies’ trusted IT service providers.
We have supported more than 200 software companies from different fields such as ACB, QSR International, Discovery Market, ANZ, etc. deliver world-class software development services and build engineering teams.
KMS Solutions also won Master Entrepreneur Award at APEA 2022, ranked #9 in Clutch’s Top 100 Fastest-Growing B2B Providers, and gained Top 10 ITC companies in Vietnam 10 years in a row.
Download Reports Now!
* By clicking on the submit entry button and submitting this form you will be indicating your consent to receiving our service consultation and marketing materials.