Customer confidence in new-age banking system is growing: Bain report


Digital banking is all about customer convenience. Over the past decade, digital banking has seen tremendous growth, driven largely by fintech and new-age technology companies that have brought convenient, cluster-free approaches to the banking ecosystem, offering much more than just banking services. A fallout of this is the flight of business from retail banks to these new era players, who are becoming more prominent year on year. According to Bain & Co’s Customer Banking Report in Retail Banking based on a survey of 22 countries, customer confidence in new era banking is growing, helping start-ups enter the mainstream. According to the survey, 75% of respondents in India said they had used Paytm in the past year, while 70% of those in China said they had used Alipay.

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First published: Thu 09 January 2020. 00:15 IST





























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