Internet in BANKING and FINANCIALSERVICES – A New Paradigm of Banking – The Emergence of a Digital World of Financial Services

today19 December, 2022

Background

 “Banking is necessary, but banks are not”, Bill Gates said in 1994 when he was Chairman of Microsoft.

 

As if Online Banking and then Mobile Banking weren’t enough change to last for a few decades, the industry’s drive to satisfy customer’s constant and insatiable need for information has recently driven us toward Real-Time Deposits, Mobile Payments and Branch-less Banking, Apps for every conceivable need of Financial Planning.

 

In recent years, the number of financial services around banking has exploded, which has led to a decentralisation of the finance industry, with a myriad of third parties.

 

How are banks, new-age fintech companies, insurance companies gearing up to offer the new-age banking experience in the digital world:

 

  • What digital innovations and best practices have worked in marked increased in customer satisfaction?
  • How has been the ROI on investments in digital and technology?

What are the latest products and innovations that will mark a profound change in how banking is done and how customers buy financial products?

Written by: ICS

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