“ These could broadly be described as high levels of automation , personalisation , and product and service useability ,” he continues . And , in what Titterton calls “ truly smart banks ”, sophisticated characteristics are “ as evident in the back office as they are in the front office ”.
“ For example , it ’ s not just a customer trying to take out a loan via their mobile app , it is also a product manager trying to make and execute product pricing decisions , or a compliance lead analysing complaint data . The smart processes that drive these characteristics are very well-designed , wellbuilt and predominantly data-driven .”
So , what are the characteristics shared by smart banks ? Natasa Kyprianidou , Senior Director of Financial Services at Publicis Sapient , offers several services and
“ A ‘ smart banking ’ approach to retail banking is incredibly necessary in the face of stiff competition from challenger banks continuously raising the bar ”
STEVE MORGAN GLOBAL BANKING INDUSTRY MARKET LEAD , PEGASYSTEMS
technological innovations that differentiate smart banks from the rest . This includes mobile banking , digital onboarding processes and mobile super wallets , where customers can originate loans while managing payments and virtual cards in one connected ecosystem . But for Kyprianidou , true smart banking goes further than this , creating hyper-personalised interactions using data and analytics to offer bespoke financial products and services tailored to the customer ’ s needs and preferences .
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