Banking Transformed with Jim Marous Unlocking Growth Mode Series #3 How Banks Are Failing Their Most Valuable Clients
May 21, 2025
In this engaging discussion, Alex Jimenez, Lead Principal Consultant at Backbase, sheds light on the critical gap in banking services for commercial and wealth management clients. While consumer banking sees rapid innovation, these segments are left frustrated. Jimenez emphasizes the need for tailored digital solutions, as a one-size-fits-all approach no longer suffices. He explores the evolving expectations of clients and the crucial role of technology in modernizing banking experiences, advocating for a strategic shift to meet diverse client needs effectively.
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Digital Banking Maturity Gap
- Consumer digital banking is mature with satisfactory app experiences rated between four and five stars.
- In contrast, small business, commercial, and wealth digital experiences are lagging behind and frustrating customers.
Why Commercial Digital Lags
- The commercial and wealth banking lag is due to client demand, bank focus, and vendor capability gaps.
- Younger business owners now demand experiences like consumer apps, pushing banks to evolve.
Tailor Solutions with AI Insights
- Apply consumer digital banking learnings to commercial and wealth segments using design thinking.
- Use AI-driven personalized insights to augment private bankers without replacing them.