July 30 ,2018 | by LSBF Blog Staff

Financial services firms are adopting new printing technologies, research shows

Financial services firms are adopting new printing technologies

A study from technology services firm Ricoh Europe has shown that financial services firms are adopting new printing technologies in order to meet the demand for paperless interactions and more personalised banking services.

The study surveyed 785 finance professionals from Europe, including the UK, and found that more than 80% of respondents believe that meeting the demand for paperless interactions and personalised banking services from customers is a key challenge for the finance industry.

Confident

Finance firms are taking action to meet the demand for paperless and personalised services, with more than 55% introducing new printing technologies.

More than 85% of finance firms were found to be feeling confident about their ability to meet customer demands for paperless invoices. However, respondents acknowledged the challenges of meeting these demands, with varied consumer requirements and an increased demand for personalisation making the process more difficult.

The study showed that more than 70% of financial firms are also recruiting people with new skills to enable them to meet the changing expectations of their customers.

Changing

Commenting on the trend of financial services businesses adopting paperless models and new printing technologies, Ricoh Europe’s CEO David Mills said: “The financial services industry is changing. As challenger banks and start-ups compete with established players for customers, the industry is rapidly switching to digital-first. Paperless models and new printing technologies provide essential agility for financial organisations trying to compete with new, user-friendly fintech providers.”

LSBF Blog Staff

The official profile of the World's Business School. Follow us on Twitter at @LSBF

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