Digital Transformation is far beyond moving from traditional banking to a digital world. It is a vital change in how Banks and other Financial Institutions learn about, interact with and satisfy customers. This generation of banking demand is anytime anywhere banking, and requires innovative, robust, secure, optimized for meeting the expectations.
Digital Banking Transformation is an actionable digitization mode for the community and traditional banks, leveraging mobile, cloud, APIs, and more. According to a survey over 60% of the bank’s customers aged between 18 to 45 use mobile banking. Using Digital Banking, accessing accounts, paying bills, fund transfers are quite common among the account holders.
Advantages of Digital Banking over the traditional method of banking
- 360° view of relationship
- Customer centric banking experience
- No physical presence required
- Customer definition is not adhered to a specific branch
- Digital delivery is the preferred medium of product & service offerings
- Product and Service offerings are tailored to the customer’s preferences
- Omni-Channel provides unified customer experience