Retail Banking to Go Completely Digital in the Future?

Is Digital Banking the future of retail banking?

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A recent report by the Boston Consulting Group (BCG) in partnership with Discovery Bank says post South African’s prefer digital banking.

The report, titled, ‘The Future of Retail Banking in South Africa’ sampled 1 000 consumers and 400 businesses.

While it seems most people are quite comfortable with digital banking there is still a larger percentage (40%) of people who believe physical bank branches will still be needed in the future.

“Some 51% of South Africans say their top reason for visiting a bank branch is that they “prefer talking to a person”.”

To read the full story, visit ITWeb and read, “South Africans foresee retail banking going completely digital”.

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