Next-Generation Technologies in Banking and Credit Unions

This report examines the integration of next-generation technologies within banks and credit unions to enhance staff capabilities and improve customer experiences both online and in-person. The study reveals a significant shift towards digital transformation in response to increasing competition from fintech companies and changing customer expectations. It notes that 64.5% of surveyed institutions have raised their technology budgets for 2024, indicating a commitment to adopting advanced technologies such as artificial intelligence and data analytics. The report highlights key insights from 200 leaders in the financial sector, emphasizing the importance of personalization and efficient service as priorities for the coming year. It also discusses the current effectiveness of digital experiences, with many respondents indicating room for improvement in areas such as AI capabilities and customer satisfaction. The findings suggest that financial institutions must leverage technology to foster deeper relationships with customers while ensuring accessibility and human interaction remain integral to their service offerings.