As the article notes, people are often more loyal to their bank than to their spouse. The implication for new entrants (and incumbents) is that merely creating a flashier or slightly less costly offering is unlikely to win over customers. Instead, they should aim to serve customers' individual needs / wants and proactively pursue new customers.
Europeans are skittish about robo-advisors
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Will AI Make Financial Services Marketing Obsolete?
With the rate Artificial Intelligence is advancing, it's probable there will be no need for marketing in Financial Services within the next two decades. Let's unpack that potentiality together, shall we? In order to get there, we need to start here, with futurist Maurice Conti and his February 2017 TEDTalk on The Incredible Inventions of Intuitive AI.