Banks play a key role in the entire financial system by mobilizing deposits from households spread across the nation and making these funds available for investment, either by lending or buying securities. Today the banking industry has become an integral part of any nation’s economic progress and is critical for the financial wellbeing of individuals, businesses, nations, and the entire globe.
Many banks make mistakes by taking on a series of separate digital initiatives, which struggle to succeed because they don’t have the support or coordination to compete with digital-native solutions. Instead, digital transformation in banking must entail a top-down approach, integrating digital systems, customer experience platforms, apps, and infrastructure.
Challenges banking industry are facing currently:
- Rising Competition from Fin-tech & Non-Traditional Players
- Lack of Personalization
- Lack of Security Measures That Don't Interfere with Customer Experience
- Slow Adaptation to New Technologies
- Information Overload for Consumers, improper time & place
- Customer retention
- Tighter cash flow management
- Explosion in online shopping and other digital checkouts
- Moving away from being product focused to customer-focused and adopting Customer Experience Strategy by banks (SCV).
- A strong push towards a cashless society
Training Solutions For Banking:
- Trade Finance
- Fintech/Digital Banking
- Retail Credit