Customer-Centric Banking: The Need is Imperative and Immediate Advertisement For the longest time, the branch was the undisputed center of the banking universe and everything revolved around it. In the last 20 years, banking transactions have moved from 50% in-branch to 95% digital self-service channels with customer experience at its center. April 12, 2021 Now that the customer-centricity has taken a whole new meaning, the banking processes and systems merits some much-needed realignment. To be more specific, the customer-centric banking paradigm is open, transparent, real-time, intelligent, tailored, secure, seamless, and deeply integrated into customers’ lives. In truth, customer-centric banking is no longer optional. Today, customers are both demanding and impatient. And also, notoriously fickle: when a well-known advisory firm surveyed 15,000 consumers around the globe a few years ago, it found that a third would stop using a “loved” brand after just one bad experience. Another report by PWC states that 75% of banking consumers have stated that a positive customer experience is the key driver for their purchase decision. With big tech and fintech companies entering the banking space with innovative propositions and customer-centric experiences, traditional banks must rush to meet or exceed the same standards, else lose customers and revenues.