Digital assistants are the future of banking

The banking industry is in the middle of a significant transformation. Fintech startups and other non-traditional companies are gaining market share at the cost of traditional banks, and customer attrition is at an all time high. According to Boston Consulting Group, corporate banks lose between 10–15% of gross revenues due to attrition annually -- there was a 15% attrition rate amongst retail financial institutions per year (Source: Boston Consulting Group). So why is the attrition rate so high with traditional banks? The main reason is that customers are dissatisfied with their experience at their bank.