According to the Digital Transformation Use Case Taxonomy 2018 study, the main challenges for banks in 2019 will be to advance their Digital Bank services and fine-tune their digital transformation strategy. Among the main perspectives, it is noted that digital branches, behavioral analytics and the modernization of their integration architecture for payment methods will be key factors, a point in which Aligare is an expert.
One of the most relevant changes will be the need to improve customer participation in the sale, delivery and service of financial products, payments and services; the need to improve the bank’s “brand trust” through a more transparent and secure environment; and, most importantly, the need to disrupt the bank’s own business model by transforming its internal infrastructure and connecting to adjacent markets to expand its relationship with its customers. Accordingly, service and omnichannel, concepts widely used in retail, are rapidly approaching banking.
In the Cloud Adoption Study, Corporate Segment, conducted for the Chilean market, significant progress was observed in the adoption of Cloud and in its investments oriented towards Cybersecurity. Therefore, it is expected that these developments will materialize in concrete initiatives and projects during 2019.
With regard to the Digital Bank, a scenario of opportunities is expected between traditional institutions and the Fintech world through integration and joint work aimed at designing new products in non-bank market segments, making new prepaid methods available or facilitating the opening of bank accounts through digital mechanisms. In this way, the integration of multiple systems and the management of large volumes of transactions become relevant factors within the digital strategy of the different companies.
At the end-user level, the outlook for the coming years will be on the physical/digital relationship, whether in branches, services and customer service channels. In fact, users will look for a mix in their experience with these institutions, and in that sense, the omnichannel strategy will be essential to address these challenges.
This is how the best banks around the world are approaching digital transformation in a systematic way that seeks efficient and secure ways of doing business, while enabling agility to better serve their customers and opening the doors to expanded business models through connections to value-added partners.
In short, the key to digital transformation in banking is to offer an excellent customer experience, and at Aligare we know the trends and needs that accompany this process. We have the tools to ensure that our clients receive a secure, professional service that is in line with the budgets they have for implementing technology in their businesses.
