In the last twelve months digital disruption has become a standard phase for the effect of forms of IT which are being deployed in all businesses.
While obviously sector specific, digital disruption to a bank is far different from that of a manufacturer but has more in common with the digital disruption experienced by a retailer or a transport company.
In retail finance, digital disruption could be characterised as the expectation for multi-channel personalised integrated banking services. This would encompass everything from mobile based payments, account management, credit all the way to financial planning and mortgage and insurance products. The expectation for consumers is a secure multi-platform seamless experience.
For retailers digital disruption is about providing customer engagement, customer recognition and a fully integrated digital and physical experience. Etail and retail systems are being integrated. Shopping carts are no longer abandoned and in-store experience reflects that of online expressed preferences. Again, personalisation is the goal.
