How to Prepare for Digital Bank Transformation
Fast-forward Banking organized by Asseco SEE
Implementation of digital innovations in all banking processes starts new types of interaction with customers, improves process efficiency and effectiveness, and results in improvement of overall business activities – was the conclusion of experts for digital banking transformations at Fast-forward Banking, a conference which gathered over 50 bankers and IT experts.
“The digital evolution in banking industry results from the changes in customers' behaviour, increased number of distribution channels and digitalization in both business and society. The digital transformations have already changed music, cinematography, photography and other industries, and now they are approaching banking sector. Logically, the customers expect the same level of services which they are experiencing in the digital world. However, banks are neither ready nor prepared for that”, said Piotr Widacki, an expert for digital banking transformations and consulting director with Asseco SEE.
Banks should be following positive examples of other industries and transform accordingly throughout implementation of digital and multichannel approach, contactless experience; they should be user oriented and providing counselling rather than sales services, and they should be more engaged in social networks – was the conclusion of the digital banking transformation experts.
The changes in financial industry result from customers’ behavioural changes, increase of distribution channels, business digitalization, and from general changes of today’s society. Banking is no longer focused exclusively on channels, as the focus has been redirected to the users and their requirements instead, to the requirements which have to be instantly recognized and to which banks have to respond in due time by providing new and innovative digital solutions.
Although some banking markets are very digitally advanced, as they use end users’ applications, the state-of-the-art services such as mobile banking provide a great growth and development basis. The real digital transformation, which is still to happen, involves integration of customer initiated operations with internal bank business processes.
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