Banking on Mobile Apps Can Eventually Upgrade Customer Engagement

Dependence of the BFSI- banking, financial services industry on mobile apps is shrinking and most banks have decided to close down one-third or half of their branches as customer footfall has fallen due to the emergence of mobile and wireless banking. Most banks were preparing for this by promoting branch-less banking aggressively and bring them on board through online banking so that they can eventually cut down their retail footprint that is a very high-cost proposition. Open banking recommended Regulatory authorities all over the globe now mandate financial institutions to…

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