Banks must improve the customer experience or continue to risk losing business. Ten per cent of retail banking customers say they are likely to jump ship in the next six months, while an additional 41 per cent are unsure if they will stay or go.

That's according to Capgemini and Efma's 2013 World Banking Report, which surveyed over 18,000 customers across 35 markets. The report also finds that banks can become more customer-centric by leveraging vast amounts of data and further developing mobile capabilities to create more personal interactions.

North America continues to lead the Customer Experience Index. Italy, Saudi Arabia and China reported the largest relative gains in terms of customers with positive experiences this year.

Mobile banking received the highest increase in importance, relative to all channels, by customers in 2013. Mobile's importance increased by 10 per cent in Central Europe between 2012 and 2013, nine per cent in Asia Pacific and six per cent in Western Europe. It's a trend that's set to continue with customers - and young people in particular - moving away from branches and ATMs over the next four years. While branch usage in North America is set to fall 3.5 per cent by 2017, mobile banking will see a 7.7 per cent rise.

Patrick Desmarès, secretary general, Efma, says: "The future of retail banking is mobile banking. By the end of 2013, there will be more mobile devices than people with a predicted 10 billion mobile connected devices amounting to a global average of 1.4 mobile devices per capita. Banks need to go where the opportunity is - and that is mobile."

Share Story: