It has taken years to fully understand what Bill Gates meant when he said, “Banking is necessary, banks are not”. He said it in 1994 and it is becoming true. Advances in technology are causing the banking industry to develop faster with the focus on efficiency, transparency and better customer experience. The current digital revolution is disrupting the way people bank, directed by evolving customer needs, behaviours and expectations. Customers now expect an anytime, anywhere personalised user experience – i.e., banking everywhere, not necessarily at a bank!
At the same time, Covid-19 has disrupted ‘normal’ banking and reset it to the ‘new normal’ to where traditional standard operating procedures were dismantled in favour of agility and the use of online technology to tackle unforeseen marketplace disruption. It exposes the importance of digital offerings to maintain customer onboarding, customer relationship and customer centric mobile banking facilities.
Now more than ever, traditional bankers need to adapt and evolve in order to face the challenges ahead as challenger banks and new FinTech companies explore and experiment with innovations and new technologies to build or create the bank of the future.
This intensive one-day programme presents the overview of what digital transformation means, what role they will play, and assist in preparing bank staff for the future when banks will shift their concentration to new technologies.