Reported by: banking|Updated: December 2, 2015
The financial world has gone through a series of transformations that started with core banking technologies and continued with internet banking, electronic payments, etc. Then new competition has emerged from outside that leveraged disruptive technologies like mobile wallets, P2P transfers, Bitcoin, etc. These competitors multiplied their impact by working hand-in-hand with e-commerce, e-taxi, e-food, etc. These upstarts threatened the retail banking financial system and the established players responded by adopting the digital ecosystem – a combination of elements such as omnichannel, analytics, social, mobile, eKYC, rapid innovation, and many more.
Digital is the main construct of this emerging paradigm. However, digital is a complex mixture of numerous technologies, innovative devices, social ecosystems, cloud technologies, security measures and of course, myriad customer expectations. To truly succeed with the digital strategy in this complex environment, banks and financial organizations have to get the fundamental constructs right….or else the result will be a chaotic mis-shapen biz-tech architecture that doesn’t achieve any strategic results. Alternatively, the results could be miniscule and piecemeal with a much lesser impact.
Recognizing this challenge, Banking Frontiers is organizing an unconference as a part of Mastek’s TekLeadership Series to help bring into focus the collective intelligence of the banking and financial fraternity to unravel the Constructs of Digital Thought Leadership. We look forward to your valuable contribution and take-away at this unconference.