Interview, Fireside Chat
Harit Talwar on the Future of Consumer Banking
- Customer sentiment is expected to stabilize personally, though concerns regarding the financial health of others will persist.
- A national recovery is projected if current trends of individual confidence combined with social concern continue.
- The digitization of financial services is accelerating dramatically, creating an uncertain operational future for traditional banks with extensive brick-and-mortar branch networks.
- Brand social personality and ethos are predicted to become a decisive, unmistakable factor in customer selection in years to come.
- Companies demonstrating strong social responsibility are expected to see their values resonate strongly with consumers in future decision-making processes.
- Content consumption habits are shifting toward a continued demand for simplified, trustworthy, bite-sized, and easily digestible information.
- Goldman Sachs anticipates that its early leadership in social responsibility will continue to influence customer behavior.
- The company expects its simple, transparent, and non-conditional payment deferral and access programs to provide greater customer benefit than standard industry checkbox approaches.
- An ongoing commitment to social responsibility initiatives is intended.
- The combination of uninterrupted digital service and employee safety measures is predicted to continue resonating very well with customers.