The Evolution of Retail Banking

Jan 18, 2017 9:05 AM ET

“We will only be successful if customers are at the heart of our business,” says Steven Cooper, CEO for Personal Banking at Barclays, whose team oversee the accounts of 17 million people.

That may sound at first like a simple goal for a long-established banking institution, but at a time when the lightning-fast advance of technology is altering our everyday lives – and our expectations of customer service in every sphere – it is in fact a highly complex, and multi-faceted challenge.

To emphasise the transformation, Cooper – who is at the forefront of Barclays’ efforts to innovate and improve its service – notes that at the time of the Olympic Games in London in 2012, Barclays had no mobile banking customers. Now, more than five million users fulfil their banking needs through the Barclays Mobile Banking (BMB) app – and that number is growing every day.

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