Technology has exerted a huge impact in the way businesses, not just banks, interact with their customers. But, just as in any other sector where companies directly interact with their customers, banks have found themselves in a unique position where they can collect data about their customers economic behaviour and lifestyle choices.
According to the latest data published by Infotrak, more than half of customers use financial technology, also known as fintech, to interact with banks. That means they are less likely to use traditional bank products and services.
