Retail banking challenges were intensified by the Covid-19 pandemic. A stagnant customer base increased pressure on profitability, while banks were forced to prioritise cost-rationalisation and fast-track digitisation, to cope with the Covid-19, over customer expectation.
To deliver the quality of experience that consumers now expect and remain the trusted financial partner of their clients vs. new Tech players, banks are looking toward the wide ecosystem of startups and are partnering with technology providers to bring innovative products and propositions forward. Additionally, given the complexity of creating an environment where banks’ solutions can be scaled successfully, evolution to open Banking-as-a-Service (BaaS) platforms are crucial for bringing solutions to market.
While banks recognise that data is the lifeblood not only for regulation and compliance concerns but to leverage innovation, their success in capitalising on the data driven solutions BaaS can offer has been mixed. With experiential banking and hyper personalisation emerging as essential tools for the journey back to profitability, institutions should be better equipped to provide clients holistic engagement.
Sign up for this Finextra webinar in association with Capgemini, to join the industry expert panel discussion on the following areas:
- Where are we seeing examples of this technology partnership for scale emerge?
- What are the hallmarks of success to offer Banking-as-a-Service?
- Can banks effectively scale independently?
- How can banks learn from technology firms to improve customer engagement?
- Have banks digitally transformed sufficiently that they are now at a place where data monetisation is truly feasible?
Speakers will include:
- Gary Wright - Head of Research, Finextra [Moderator]
- Gareth Wilson - Vice President, Head of UK Banking & Capital Markets, Capgemini