Since their inception , Small Finance Banks (SFBs) have been primed as a vital cog for the last mile credit and service delivery for the MSMEs, farmers, and unorganized sector units, helping to
Over the last several years, globally, banks are working to reduce their brick-and-mortar footprint, primarily in the reduction of full-service branches. One recent report anticipates the closure of 11,000 branches by 2030, or
The Covid pandemic has only validated the need for robust digital capabilities across all industries. Banks have not been immune from the demand of customers to manage their banking relationships using digital channels; especially when it comes to banking
Industry landscape Advanced technologies such as blockchain and artiﬁcial intelligence (AI), the emphasis on the platformiﬁcation in banking, and the increasing demand for hyper-personalization from digital-savvy millennials have changed the industry landscape. According to Deloitte,
Growth and profitability in the banking industry are increasingly tied to productivity metrics such as innovation, development cycle times and continuous technology investment. Digital transformation in the banking industry began in earnest more
The business banking / corporate banking services space is being reshaped by a broad range of trends, which are driving fundamental changes: New payment service alternatives, including instant payments and cross-border payments, are
Seamless online banking and enhanced digital advice are expected to deliver up to 60% increase in operating profit over 5 years. Part of the reason for this is that many corporate- banking customers
Much has been written over the last several years about the importance of banks transitioning their business to a digitally enabled bank. Despite the intense push for digital initiatives to better engage customers
COVID-19 has accelerated the push to digitalization as more consumers have started to do their daily transactions online. The convenience and ease of doing transactions are what will make them stick to it
Customer Onboarding is a critical step, and the customer’s first impression of your bank…..
Increasing Customer Engagement and Loyalty by Designing Omnichannel Customer Experience across Financial Services Ecosystem
Banks are increasingly expanding….
Customer onboarding is a critical step in a customer’s journey with a bank as it leaves a long-lasting footprint in customers’ minds about how they perceive a bank. The rise of the neobanks
How should banks approach scalability, robustness and security expected by the Omni-Digital Customer?
WeChat, Tencent’s super app has been adding 20 million users each quarter. Currently, it has over one billion monthly active users. Similarly, Kakao Bank, one of the first digital-only banks launched in South
The number of bank branches have been on a steady decline worldwide. One recent report highlights the closure of 2868 bank branches in the UK alone between 2015 and 2018. Similar reports show
The rapid global adoption of smartphones and tablets has revolutionised our use of the internet like nothing before. As modern organisations look to leverage consumer support for digital devices, the mobile app ecosystem
Much has been written over the last several years about the importance of banks transitioning their business to a digitally enabled bank. A recent report by Forrester on The State of Digital Banking
For some segments of the population, mobile banking technology may still seem like a recent innovation. For younger generations, however – people considered “digital natives”, this generation has little recollection of a time
The acceleration of consumers using mobile devices represents how quickly society has adopted these technologies and the stress they are putting on traditional business models. This is represented by the mass amounts of
Over the past few years, the banking customer journey has been re-engineered courtesy of the rapidly advancing digital banking platform technology landscape. With this, banking incumbents have had several dimensions of change running