The World Retail Banking Report 2022 highlights the changing competitive landscape in the banking industry. Banks are facing new agile competitors and need to pivot their strategies to compete. The report emphasizes the importance of customer engagement and the need for banks to leverage data and new technologies to understand customers' journeys and deliver personalized offers and experiences. The report also highlights the role of the CMO as a customer strategist and chief engagement officer. The key takeaways from the report include the need for banks to invest in systems, governance, and AI/ML technologies to gain insights that can help drive loyalty and growth. The report is a valuable resource for industry strategists looking to stay ahead of the curve in the evolving banking landscape.
