There’s no denying that the digital age has challenged banks. Keen to compete with fintech companies, meet changing regulatory requirements and address ever-changing customer needs, the banking industry has really had to change its tune. Looking to successfully plug into the growing digital ecosystem, in 2017, we saw local and international financial institutions adopting a new, more strategic mind-set.
Below, are a few articles we wrote about the digital banking trend.
#1 Digitalisation as a differentiator – the rise of digital banking
Acknowledging that digitalisation has become a key tool for any bank looking to stay ahead of the competition, banks have had to come up with creative ways to keep their customers happy. From offering free mobile banking to their customers to making bold innovation investments, some of the best performing banks aren’t afraid to challenge the status quo.
#2 Why every bank needs a digital strategy
Hinging on the previous post, we outlined exactly why every bank needs to be thinking about digital. The answer? Well, for starters, because your customers want it. With so many options out there, if your bank doesn’t offer customers a personalised experience or the chance to bank from anywhere, they’re likely to go somewhere else.
#3 Digital banking update: Learning from global trends
When you’re looking to change your approach, it can be helpful to look abroad. Given the fact that some of our international counterparts are more advanced when it comes to digital and innovation, it can be inspiring to learn a thing or two from their strategies.
#4 Banks and innovation – a digitalisation guide
If you remember the days when you had to travel to your bank and stand in a queue just to deposit money, cash a cheque or apply for a credit card, you’ll understand how digital has totally changed the banking industry as we know it. And with a McKinsey study outlining that banks have until 2018 to become “digitally proficient”, there’s a lot they need to learn about digitalisation.
#5 Digital banking: The convergence of finance and telecoms
With telecoms being our area of expertise, in September we wrote about how digital and technological connectivity have played a critical role in boosting global financial inclusion; improving access to everything from financial services and health to education.
Read more about how telecoms and banking industries can work together to create meaningful, useful and, often, life-changing experiences.
We’ve so enjoyed delving into the world of digital banking this year and plan to keep digging in 2018. To access blogs like these, and similar insights around telecoms, leadership, innovation and business; simply subscribe to our monthly newsletter below.