Thu Jul 22 CEST (over 1 year ago)
In your timezone (EST): Thu Jul 22 2:00am - Thu Jul 22 11:00am
Digital is coming of Age – Is the honeymoon phase over?
Financial institutions are refocusing their digital and data transformation initiatives – not only to cope with the new ‘socially distant’ reality – but more importantly to tap into a new momentum of digitalization, as customers, employees and regulators embrace the reliability, convenience and efficiency of digital financial services.
However digital value creation is not a one-way street! In 2021, financial institutions must proof that digital transformation is not just an internal cost efficiency and productivity driver, but that they take digital customer-, and staff experiences seriously. Customer engagement needs to be personalized and contextual; security needs to be embedded and increasingly invisible; the next generation of customer-facing tools and services needs to deliver quantifiable value for customers, and digital sales must happen at a time and place of the customer’s choosing, not the banks’ convenience.
FSI must also take advantage of a new regulatory openness towards cloud, data-driven security-, compliance -, and customer engagement strategies, but heed the warning signs not to repeat the mistakes of the past. Transparency, the customer’s best interest and evidence-based compliance are the future.
For financial institutions this means the digital “honeymoon” is coming to an end. The future will require a far more balanced and genuinely customer-centric value proposition.
During the IDC Financial Forum 2021, we will discuss successful strategies to adapt to this rapidly changing world.
We look forward to connecting with you soon!
• Dell Technologies