What is Ecosystem Driven Banking?
An ecosystem driven bank or credit union is a highly adaptable and flexible financial institution. It responds to market changes and competitors proactively, with agility. Further, this financial institution keeps pace with new technological innovations and uses these to offer a distinguishing customer experience.
What are the Components of an Ecosystem Driven Bank?
Ecosystem-driven banking involves managing risks better, optimizing customer lifecycle, and leveraging new-age technologies. Together these components help a financial institution better leverage market opportunity and deliver superior customer experience while staying ahead of the competition.
How to Create an Ecosystem Driven Financial Institution?
An ecosystem driven bank or a credit union requires a mix of the right technologies that can help a financial institute stay customer-centric and agile. Read this newsletter to find out which are these technologies. This newsletter also features a Gartner report- 5 Strategic Approaches to Digital Optimization and Transformation in Banking.