45 % of bank customers are digital-only, while 88 % anticipate personalized and high-quality service. A trend that has ramifications for branches: over the last five years, more than three branches have closed per day. This is the conclusion of a study conducted by Bain & Company during the Bain Banking Event in Milan. According to the report, fintechs have begun to challenge traditional operators' leadership: a digital bank now serves 57% of customers. These players typically provide an excellent customer experience, though risk management and profitability could be improved significantly. Banks in Italy are increasing their investments in technology infrastructure, with a particular emphasis on cloud, core banking, data, and automation. In the period between 2020 and 2022, the growth of technological expenditures by Italian banks doubled in comparison to the period between 2017 and 2020. Technology and automation are cited as a top priority in the strategies of 30% of bank CEOs. Another pressure factor is sustainability: 85% of clients have altered their purchasing behavior in accordance with ESG logic, and 75% of investors consider these criteria when making investment decisions. Finally, ESG initiatives are ranked as a key driver of job choice by 8 out of 10 millennials.
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