The 2025 Retail Banking Trends and Priorities Report reveals an industry in transition. While 51% of institutions are actively implementing digital transformation efforts, 22% struggle with implementation or have halted their efforts. Key priorities focus on improving digital experiences (52%) and enhancing data capabilities (33%), while AI adoption is slowly expanding beyond security into customer service and process automation.

Most interestingly, despite the continued focus on improving digital delivery, organizations, especially credit unions, are still building new branches.

My guest on Banking Transformed, Mark Sievewright, Chief Strategy Officer for SRM, shares his perspective on where banks and credit unions focus their efforts and whether some of their investments may be misguided. He also discusses how the findings challenge conventional wisdom about digital transformation and highlight the complex balance between innovation and customer expectations.