By Amit Dua
By SunTec Research Team
The move of Big Tech companies into the financial services sector brings both risk and benefits to consumers and banks alike. Technology firms such as Alibaba, Amazon, Facebook, Google and Apple have grown rapidly over the last two decades.
The advent of technologies such as artificial intelligence (AI), machine learning and the internet of things (IoT) have transformed the way in which the world operates.
At SunTec (www.suntecgroup.com), we work closely with enterprises across Financial Services, Digital Communication Services (DCS), & Travel in creating differentiated customer experience and to realize value for their stakeholders within the marketspace.
Nearly 75% of core banking transformation projects fail, leaving only 25% of successful implementations – of which many come at a significant cost or time overrun. Modernizing core IT systems is a complicated transformation process that demands huge investments, money and resources.
Now that the fourth industrial revolution is afoot, digitalisation is business as usual for all organisations, including banks. To keep up with changing customer needs and behaviour, digital transformation projects are not only necessary, they are the first step in the journey of customer satisfaction.
Innovative solutions centered on customer journeys the changing customer landscape challenges banks to refine their offerings around each customer with a high level of granularity, whilst transforming customer experience. But information silo…