Key highlights

— Highlight 1

Create connected customer experiences

Customer expectations from their digital interactions are rising and banks are not keeping pace. Nearly half of respondents in our Voice of the Customer survey said their banking relationships were neither emotionally connected nor well-integrated into their lifestyles; 52% said banking was not ‘fun’. Many respondents also say their banks don’t offer the seamless experiences, value for the money and innovation they want from their digital relationships.

What customers say they don’t get from their banks

— Highlight 2

Modernize infrastructure to optimize data-driven growth

Structural challenges keep most banks from fully leveraging data-driven analytics to attract customers and grow relationships. In our executive survey, 95% said outdated legacy systems and core banking modules inhibit efforts to optimize data- and customer-centric growth strategies, while 80% agreed that underdeveloped data capabilities hinder customer lifecycle process improvements. For example, 82% said they have difficulties identifying new customer segments; 55% struggle to provide seamless onboarding experiences.

Incumbents face structural challenges along the customer lifecycle

“Technology is essential to boost digital capabilities. However, there are challenges involved in adopting and integrating analytical tools in the customer journey, organizing continuous improvement by aligning with clients, and integrating all required skills and capabilities under one roof.”

Finbar Hage,
Head of Digital Customer Process, Rabobank, Netherlands

— Highlight 3

Invest in technologies to use data more like FinTechs

Banks possess vast and varied amounts of customer data – geospatial, financial, social media, lifestyle, behavioral, health – but 73% of the executives in our survey said they struggle to turn it into useful insights. Eighty percent of the executives in our survey cited data reliability as a concern, while 70% said they lacked resources to process and analyze data. Forty-three percent said siloed data was a concern.

Banks face a range of data challenges

— Highlight 4

Align channel mix to meet customer preferences

Bank executives and customers want many of the same things from the distribution channel mix. In our surveys, about 80% of both bank groups continue to view the website as a critical point of interaction. Mobile apps were cited by 91% of consumers, compared to 77% of executives, while branches were actually more valued by customers (75%) than executives (58%).

Customers and bank executives mostly see eye to eye about channel mix


  • Branches
  • Mobile App
  • Websites


  • Social Media
  • Voice Assistants
  • Wearables

Sources: Capgemini Research Institute for Financial Services Analysis, 2022; Capgemini Voice of Customer Survey, N=8,051; Capgemini marketing executives survey, N=142.

— Highlight 5

Accelerate platform learning and integration to compete

Ecosystem platforms are emerging as a promising way to fill capability holes or expand revenues, but banks are still learning the ins and outs of platform innovation. In our executive survey, 78% worried about cannibalizing products through ecosystem partners, while 72% struggled with preventing brand dilution. Maintaining ecosystem exclusivity for partners was cited as a challenge by 53% of respondents.

To thrive in the platform economy, face hurdles with innovation

Capgemini Research Institute for Financial Services Analysis, 2022; Capgemini Executive Survey, N=142.

Download the report

Customers today are looking for value from their bank–a partner to accompany them on their ecosystem journeys and orchestrate innovative, personalized experiences no matter the channel. Banks that can deliver on the promise of platform business models will be positioned to establish emotional connections that can deepen wallet shares, turn customers into brand evangelists and power growth.

Follow us on