Traditional business and process models in the banking sector face significant challenges due to digitization and expansion of nonbank providers of financial services, emphasizing the need for key innovations in business strategy, organization and ICT on the side of banks. At the same time, digitization is not only a challenge, but also an opportunity.
Rapid technological innovation is shaping significant changes in customer behaviour and expectations. Financial service providers need to respond to that challenge by combining investments in technological innovation with a reinvention of their business strategies. Banks must embrace a fully customer-centric approach to everything they do, integrate customer experience at the heart of their design processes. Understanding not only what customers say, but also what they do and why they behave that way means changing the way we think about financial products. At the same time, clients have the highest expectations as regards the security of their data and money; clients’ trust is the most valuable asset in the hands of banks. Many other challenges lay on the way, not to mention regulatory aspects.
The conference should provide an opportunity to discuss various aspects of those challenges, such as: