According to the latest Temenos survey, banks in the West have significantly increased their turnover in digital sales and now most of them provide customers with the opportunity to open accounts on the Internet.
Temenos AG specializes in corporate software for banks and financial services. The company conducted an annual analysis of 60 large and medium-sized banks in North America, Europe and Australia, finding that more than 70% now offer opening online accounts.
At the same time, the use of mobile applications is also not standing still and now provides access to 50% of all banking products available on phones and tablets. This is a noticeable improvement compared to two years earlier, when only half of the functionality was available to mobile devices as compared to Internet banking.
In recent years, it was the US banks that most of all progressed in this direction, which are currently leading in personal banking services with mobile support for more than 75% of banking products, ahead of the long-term leader Australia.
Derek Corcoran, Temenos chief specialist, says: Worldwide, banks that invested in digital transformation projects three to five years ago are beginning to see the fruits of their labor in the form of improved customer-oriented digital capabilities that enter the market.