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Boston Consulting releases new study that finds COVID-19 could accelerate digital transformation in retail banking.

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Global Banking News-May 8, 2020-Boston Consulting releases new study that finds COVID-19 could accelerate digital transformation in retail banking

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Boston Consulting Group (BCG) has announced results from a recent study that found the coronavirus pandemic is set to change the way consumers interact with their banks, with 24% of customers planning to use branches less, or stop visiting completely, the company said.

The retail banking consumer pulse survey, which will be updated every two to three weeks, seeks to track short- and long-term shifts in consumer behavior and sentiment on the basis of data from more than 5,000 respondents across 15 markets. This survey, conducted from April 13 to April 27, examines channel usage, assesses customer satisfaction with banks' crisis management, and seeks to determine potential industry trends that will endure after the crisis.

According to the study, millennial and...

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