Digitalization is having a massive, generally positive, impact on banking customers’ experience. Mobile and online services are taking accessibility to a new level and speeding up processing. Artificial intelligence and process automation will allow more personalization and customization of services.
In sharp contrast to that picture, digitalization is having a generally negative impact on banking employees’ experience. Stress and burnout are on the rise as digital technology allows employees to be constantly connected and interrupted resulting in longer hours and higher stress. The days lost to work-related stress in banking are even higher than during the crash of 2008, according to Personnel Today. Compared to other sectors banking employees feel less in control of their well-being.
Innovation Killer No. 1: Constant Connectivity
The same mobile technology that allows customers to access their bank at any time and from anywhere also allows employee to work anytime and anywhere. With mobile devices many employee’s work day ends with a quick check of emails just before going to bed, and then looking at the them again before even getting out of bed in the morning. The work day is spread across all waking hours, with only a break to sleep. There is hardly time left in most people’s day when work is not on their mind.
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