Payments revenue will reach
US $ 2.4tn in 2029
DIGITAL BANKING
Q. BANKS HAVE PLENTY OF DATA, BUT HOW DO THEY ACTUALLY GET IT TO THE FRONTLINE SO STAFF CAN USE IT TO HELP CUSTOMERS IN THE MOMENT?
» This is where we see most banks fall short. They have vast amounts of data, but they cannot transport, contextualise and present it in a way that’ s usable at the point of interaction.
Critical information is scattered across systems, formats and functions, often requiring manual effort to piece together, which sometimes can take weeks for big complex customers and deals. That approach doesn’ t work in a real-time environment.
The solution is a layered approach that connects to data where it sits, transforms it in motion and delivers it contextually to the frontline based on role, need and entitlement.
When that happens, data becomes actionable, conversations become informed and banks can make decisions immediately, structuring deals in minutes instead of weeks.
Without that capability, real-time banking remains an aspiration rather than an operational reality.
Q. WHAT IS THE BIGGEST RISK FOR A BANK THAT STAYS PRODUCT- LED INSTEAD OF BECOMING CUSTOMER-CENTRIC?
» The real risk is not that banks fall behind technologically, but that they hard-wire latency into their organisation. At that point, no amount of investment can compensate for the way decisions are made.
Product-led organisations optimise within siloes, but customer-centric organisations operate across them at much higher pace and are, as a result, providing a superior customer experience.
Neobanks and fintechs were built around continuous feedback and improvement loops, using data to adapt services in real time based on customer behaviour. This structure means they run on self-correcting and improving systems.
If traditional banks remain product-led, they will continue to improve individual components while competitors redefine the overall experience.
Over the next two years, we’ ll see the gap widen. Many banks will have the right technology in place, but decision latency and organisational design will hold them back.
Real-time banking demands a customer-centric model. Without it, speed in one area is neutralised by friction in another.
Payments revenue will reach
US $ 2.4tn in 2029
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