I always wanted to write about Banks. The bigtech financial brands & the leading Bigger Banks.
MY THOUGHTS OF BANKS FLASHES BACK FROM THE LEGACY BANKING SYSTEM TO THE REVOLUTIONARY DIGITAL TECHNO SAVVY BANKING SYSTEM OF TODAY ….
India is a growing financial hub as we are moving towards globalisation in the financial sector. To me, Globalisation in the banking industry has just begun with technological innovations now streaming strongly in the blood of the banking industry although the financial strategist may contradict to my statement or add a lot of grammar.
In these few years as the waves of changes sweeps across the banking industry the innovative much ahead revolutionary big tech companies still holds a very strong competitors to the banks. The Grass not only looks greener the other side but it stands as a potential high competitor to the Banking industry of today. As I write this article the words of BILL GATES clearly echoes in my ears BANKING IS NECESSARY ,BANKS MAY NOT ,,
Demands of financial sector is growing to a complete revolutionary change. But with the growing bigtech companies digitally more vigilant banking services are need of an hour. The future of banking services extends far beyond being just a financial brand image or providing the so called legacy banking.
The banks of future will have to go beyond providing basic financial services, to providing hospitality advises services ,health services dietary advises services and much more. The future ecosystem of banks needs to innovate more so that they can collaborate to consumers’ needs every day. Banks would now require more to be a SO CALLED A LIFE CONCIERGE, MOVING BEYOND the much-boasted mobile innovative banking strategies to increasing the ability to leverage customers insight.
The banking ecosystem in India is changing with loads of innovation boosting in like the block chain technology, upgraded ATMS, etc but the big fintech firms offering financial services stands on a big profitable scale then the legacy system of banks, moreover with the growing revolution in the tech industry the digital savvy consumers may like new ways of banking like wearable communicators or virtual reality.
The future of banks is a big new revolutionary change it needs to be more digital savvy, sharper focus, Agile, more collaborative and exposed to finally what I earlier wrote BEING A LIFE CONCEIRGE…
Its time to make change evitable !!!!! instead of being inevitable!!!!
Dr Nikkie Grover
EDUWIZER PVT LTD