Firstly
Digital disruptors in the FinTech space have showcased their strength in online presence. This has forced the industry to come to the terms that digitalisation is no longer an advantage, but a must-have in their war chest
Secondly
Account holders are becoming more conscious of service quality and delivery. They might remain with a familiar provider momentarily, but if their demand for a more personalised, relevant treatment goes unanswered, account holders will probably switch to competitors with a more favourable account holder retention strategy