The ascendance of mobile banking as the workhorse channel will confront digital banking strategists with three important decisions in 2023. That list starts at the highest strategic level with questions about how to find the ideal balance of innovation between mobile and online banking, and it extends to the urgent need to change the conversation about fraud and hone new ways to use automation to improve customer experiences, not just lower costs.

“Online-optional parity”: Financial institutions are rethinking the meaning of digital banking parity. The industry is entering the era of “online-optional parity” – and it is forcing digital strategists not only to question the assumption that the two channels should match but also to rethink the future of online banking.

“In your face” security: The coming year will also force FIs to shift the narrative by making security an “in your face” topic; create one-stop security centers that address detection, prevention, and resolution; insert “speed bumps” in Zelle flows; and build the use of empowering features such as card controls, notifications, and gamification.

The purpose of automation: 2023 will call for bankers to reset their goals for search, chatbots, virtual assistants, and other automated features. Going forward, automation will be measured by its ability to deliver more satisfying digital experiences, deepen awareness and engagement with digital features, and deliver personalized experiences and coaching.