The continued advancement of technology during the past three decades has dramatically changed the everyday life of consumers, including the way retail banking customers conduct business with their financial institutions. Beginning with the introduction of ATMs in the 1970s, and continuing with the introduction of Internet and mobile banking in the 2000s, banks have found ways to enhance the customer experience through technology.

In fact, the 2014 U.S. Retail Banking Satisfaction Study finds that customers are using mobile apps twice as often as they did just a few years ago. Due to increased mobile functionality, customers are beginning to migrate away from not only personal interaction channels, but also other digital channels.