Client demands push banks toward frictionless experiences

Compliance, client expectations, and legacy tech challenge banks' 2025 goals.

The global financial industry will be challenged with increasing operational costs to meet compliance demands at the forefront, according to Andy Mantzios, Global Head of Client Solutions at Fenergo.

Client experience is another pressing focus, as banks strive to meet expectations for seamless onboarding and interactions. “Clients are demanding a much more frictionless…experience when they’re being onboarded or interacting with their bank,” Mantzios said, underscoring a shift toward greater convenience.

However, legacy technology systems remain a barrier to innovation and automation, with siloed platforms complicating efforts to create a unified, streamlined experience. “There’s no overarching technology that allows banks to bring together all of those technologies,” he explained.

During Sibos 2024 in Beijing, Mantzios is eager to connect with clients and showcase Fenergo’s latest innovations, aiming to share solutions that address these pressing industry challenges with the wider banking community.