National Bank looks to modernize personal banking unit to better compete, CEO says
National Bank's CEO, Laurent Ferreira, anticipates increased competition in the personal banking sector and plans to modernize the bank's offerings to attract more customers. Speaking at the Canadian Club Toronto, Ferreira highlighted the evolving consumer habits and the emergence of fully digital services provided by new lenders, which are gaining popularity. The rapid advancement of AI is also expected to reshape the landscape for deposits and payments.
Ferreira believes these shifts represent structural changes with opportunities for the bank to expand its market share. To adapt, the bank will focus on making its personal banking segment more mobile-centric, digital, and user-friendly over the next few years. This strategy might also include partnering with innovative technology providers or adopting different business models from emerging competitors.
In addition to these market-oriented changes, the bank is allocating more resources to safeguard client data, as AI technologies are increasingly being exploited as cyber weapons by fraudsters and hostile foreign entities.
Written by urgent.news from Winnipeg Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
