24 July 2018
The digital transformation of the banking sector has transformed the activity of financial corporations. The emergence of fintech companies, which offer financial services based on technological processes, has led to the emergence of new users. The use of technology is increasingly important within the sector. According to studies, three out of ten Spaniards access technological services to perform financial transactions. Double that of 2015.
Requirements of new customers analysed
Banking corporations must integrate digital transformation processes that increase their competitiveness in the market. In this regard, The Valley, a knowledge hub specialising in new digital trends, analysed the demands of these of new customers:
-
They demand 24/7 customer service
The digitisation of the sector allows customers to perform financial transactions with no restrictions as regards time or day. Customer care services must also be uninterrupted. This means users can count on help in the event of a problem when performing transactions. This contributes to increasing their confidence in the bank.
-
Customers access remote services without foregoing one-to-one customer service
New customer habits must be understood as an expansion of the habits that have been developing over recent years, not as a replacement of them. Physical branches remain an essential venue for customer service, although transactions increasingly tend to be performed via electronic means.
-
Customers use all digital channels
Access to banking services via mobile devices, such as smartphones, tablets and laptops means that customers do not have to travel to perform transactions. Being present on multiple channels is essential, as this will attract new users who want to make the most of new digital tools.
-
Customers look for segmented information of high quality
The new digital environment is characterised by the absence of borders, which encourages users to travel through information highways where they receive mass and non-personal messages. Customers expect to receive high quality segmented information from their bank that suits their preferences. This encourages loyalty. This segmentation also allows the scope to be extended to other potential customers whose preferences suit the financial services offered.
-
Customers interact with the bank via the website
Social networks are an essential space where users require high quality customer service. The bank can also improve its online reputation. For example, by responding to a tweet or Facebook comment on a complaint, it is possible to improve the customer's opinion of the bank. This can promote the bank's image to other users who might not be customers yet, but who might be interested in becoming a customer in the future.
The Valley and Cecabank run a joint Digital Transformation Programme in the Financial Sector
The programme is intended for directors, executives and middle managers. The aim is to understand and address the key issues of financial sector digitisation. This can help banks to increase their competitiveness in the new technological environment and address the impact of digitisation in all areas. To do this, The Valley is collaborating with Cecabank, a bank that provides financial and technological support services to financial corporations.
With the learning by doing methodology, students learn by developing and implementing practical cases. The method ensures the participation of all those attending and encourages their motivation and long-term learning.
During this training process, the bank of the future will be studied by analysing different disciplines: agile banking, new income models (the API Economy, Data, Bank as a Service), banking cybersecurity, the use of chatbots in financial services, artificial intelligence and big data, blockchain, crypto currencies and currency transfers.
For more information about the Programme:
