DIGITAL TRANSFORMATION

58 could lose customers ,” he says simply . “ I think there ’ s a fear , at least in tier two and three banks , of seeing their customers move to fintechs in the next decade .” In order to meet customer expectations , it comes back to developing an increasingly smooth digital experience as mentioned above . “ Traditionally , mobile banking apps only did two things : you could check your balance and pay somebody . Now , you can see your mortgage balance , your card , you can set up direct debits … customers are demanding those kinds of functionalities , both on the consumer side and the corporate side .”

This can be just as important for business clients as it can for customers on the retail side . “ Sometimes we have to make an urgent payment and can ’ t be waiting at a branch or even opening up a laptop ,” says Suppiah . “ This is common for SMEs all over the world – and SMEs are the largest market globally . Demand is increasing for better convenience , secure , reliable service , and the ability to do crossborder business more easily .”

Serving SMEs , as well as the local branches of large corporations ,

— Ashok Suppiah , CEO , Mitra Innovation

FEBRUARY 2019