According to Capgemini, the digital banking transformation sees banks using big data to identify and understand important trends in their customers, specifically on their needs and behaviour. As banks continue to leverage on new technologies and automation, there is greater collaboration with FinTechs to produce cutting-edge innovation.
However, despite the recognition of the pressing need to innovate, only 11% of the respondents in a survey done by PWC on the future of retail banking note that their organization is prepared. Moreover, talent remains a huge obstacle in the journey towards digital banking transformation with 57% of respondents stating that talent constraints are the main obstacles for emerging markets.
Such challenges will have important impacts on consumers as they are becoming increasingly tech savvy and informed about the different retail banking products available in the market. Accenture states that 11% of consumers left their current banks and switched to virtual banks. Also, 45% of consumers state that loyalty to a bank is dependent on the discounts offered by banks. It comes as no surprise, that for banks to remain competitive and relevant to consumers, they need to embark on innovation to streamline processes and cut costs to attract the best customers.
The 5 key areas of discussion are:
- Understanding the five important FinTech trends
- Demystifying the FinTech ecosystem
- Advantages of FinTech for your business
- Key FinTech trends to integrate technology, process and products
- Use cases from the region and around the world
If you are a retail banking operations staff, wealth manager or technology personnel supporting banking businesses, this is the webinar for you!
Date: 1st March 2018 | Time: 2:00 – 3:00pm (UAE)