DIGITAL BANKING RIGHT : BIAN webinar – The essential foundation for a modern digital bank
“ From automating customer experiences in digital , which allows customers choice in claims processes , to the ability to move between channels in order to gain the reassurance and understanding they need ,” he adds . “ All the way to new products that are usage-based , or more adaptive or riskmitigating . Ecosystems allow these outcomes to be far easier to achieve because insurers can rapidly adopt enabling technologies , new data services , channel capabilities , or embed themselves deeper into people ’ s things and lives .”
Strategies for connectivity Hans Tesselaar also emphasises the power of collaboration in maintaining a competitive edge : “ As a member-led non-profit network , BIAN ’ s success is built upon valuable contributions from a network of vendors , banks and fintech institutions in the industry . There is also a widespread understanding that many of the problems being experienced can be solved by coming together . This understanding is crucial for any ecosystem model .
“ Organisations like BIAN help traditional banks , for example , foster new relationships with fellow financial service providers and fintech companies . In doing so , banks are able to draw expertise on digitisation from an established global network of software vendors , service providers and consultancies . Initiatives such as Coreless Banking are also great launchpads for traditional banks to accelerate their digital transformation efforts and reach success through a standardised model capable of bringing together siloed data .” fintechmagazine . com 95