Akin to many other industries, the banking sector finds itself in the digital race. Banks must invest in technology to strengthen their systems and processes to ensure long-term competitive advantage. Those who have not accelerated their path toward digital transformation will only find themselves at a disadvantage to their competition.
There has been no time in history when financial institutions had such a strong reliance on technology and that too with great promise for positive outcomes.
Technology with Customer-centricity at its Core Is the Mantra for Digital-first Banks
Technology adoption is pervasive in the banking industry, but only 27% had launched their digital transformation initiatives in 2021. And customer expectations from banks are fast evolving. To thrive in today’s market, banks need to prioritize the customer journey with the right technology. Given the operational complexities of banks, the priority on the customer can get lost. Therefore, banks need to strategize to retain customer-centricity at the core of their digital transformation initiatives through holistic automation, addressing gaps in customer journeys, and bridging siloes.
Learn How to Become a Digital-first Bank at The ET Digital Banking Summit
We will be there at the 2nd edition of “The Economic Times Digital Banking Summit” on March 10, 2022, from 10 a.m. – 4 p.m. IST. Join us in this virtual event to learn how Newgen’s solutions— online account opening, trade finance, payments, and commercial lending—are enabling financial institutions and NBFCs across the globe to accelerate their digital initiatives. Also, get insights into how accelerating digital can help you enhance customer experience, operational excellence, and business innovation.
Register now to attend the panel discussion where I, along with other industry stalwarts from Mashreq Bank, IndusInd Bank, and Federal Bank, will be sharing insights into “Private Banks Embracing Emerging Technologies to Drive Bold Transformations with Customer-centric Approach.”