Today, websites, apps and chatbots are where customers turn to when they need something from their bank.
Customers love the convenience, speed and control of digital channels, but when they have an urgent query, often only a phone conversation will do. Large segments of the population still appreciate the in-person experience of the local branch, while continued access to, and acceptance of, cash is mandated in UK law. Banking organisations must navigate all of this, knowing that a reduction in physical branches does not mean closing the door on great service. These nuances, with multiple touchpoints and customer preferences working in tandem, your network is more important than ever. Intelligent networks and robust digital connections help you stay open and available for customers whenever they need you.
From the high street to your home screen
According to our new Future Unlocked research, by 2030 only 9% of customers expect to use a branch regularly, while mobile app usage will soar to 54% and online banking will hold steady at around one third. The shift is already happening: most people are happy to pay bills, transfer money and apply for loans without setting foot inside a branch or even speaking to a person.
For banks, that represents an opportunity and a challenge.
The digital-first model offers many obvious benefits: lower overheads, faster transactions and the freedom to serve customers around the clock. But it also raises expectations: if customers can’t easily walk into a branch to discuss their needs with a fellow human, then the digital experience must make up for this by being consistently excellent. Every click, tap and notification must do what it’s supposed to – and that relies on robust connectivity working perfectly behind the scenes.
None of this is to say the solution is straightforward. Banking institutions run some of the most complex digital environments imaginable, with apps, websites, trading systems, contact centres and cloud services all interlinked, generating gargantuan volumes of data every second.
Digital-native finance is also changing the nature of the word ‘service’. Customers increasingly want personalised insights, instant approvals and secure payments at any time of day. Behind each one of those features is a chain of systems that must work flawlessly every time. Maintaining this flow securely and at scale requires the best, most intelligent and reliable infrastructure.
Always connected, always on
Banks have always been expected to safeguard their customers’ money, but today that responsibility has upgraded to encompass their data and digital identities too.
As services move online, banking institutions’ networks become a critical part of the trust equation. They must protect against cyber threats and comply with strict regulations, while dealing with millions of transactions, introducing innovations and maintaining profitability.
Connectivity also has a direct role in financial inclusion. By extending fast, reliable broadband, mobile and satellite connections to more parts of the country, digital banking is brought within reach of communities that might otherwise be left behind. When branches close, it becomes even more important that online services are easy to use and supported by consistent performance.
For these reasons, modern banking lives and breathes connectivity. Where once an outage might have brought down a branch, today, in a hyper-connected environment, the risk is far more concentrated, and the risk is proportionally higher.
Outages, even brief ones, have serious financial and reputational consequences, while a delayed payment or security lapse can erode customer confidence overnight. That’s why the best institutions now treat their networks as strategic assets rather than utilities. The sector is beset with threats, but fragile networks should not be one of them.
Building the financial future
We help banking organisations build digital strength with networks designed to support availability across branchless operations. Data moves seamlessly and securely between systems, while providing the visibility needed to monitor performance in real time.
When it comes to security, we combine network intelligence with advanced cyber protection to detect unusual activity and respond before it becomes a problem. For the financial sector, where milliseconds matter, swift responsiveness is priceless.
We see digital banking not as the end of the branch era, but as the start of something bigger. With intelligent, secure networks, banks can innovate freely while keeping customers safe. They can use data responsibly to offer more personalised support, operate sustainably by reducing their physical footprint and build resilience against an ever-changing threat landscape.
As the banking sector moves beyond the branch, we enable banks to serve customers wherever they are, shaping a banking system that’s fit for the future.
