Youtap /
/
/
/
Knowledge of eMoney & Digitalization in a Bank

Knowledge of eMoney & Digitalization in a Bank

Youtap

Youtap

Categories

Tags

The biggest challenge for banks is the lack of knowledge inside the bank and understanding the prerequisites for digital transformation.

Digitalization requires ‘buy-in’ from the Board and C-Level management. The biggest headache is the existing core infrastructure and, in some circumstances, the personnel who are doing a great job managing the legacy infrastructure.

Many banks make the mistake of deferring to the vendor that has gallantly supported them for many years, who proposes an expensive lipstick upgrade to old architectures.

The most significant step for a bank is agreeing at the board level and C-Level that it’s time for a change, then establishing an independent digital unit focused on alternatives to existing refurbishment plans. The bank must talk about a great UX, an eWallet, Bill Payment, Rewards, and stickiness.

The personalization of the bank’s customer experience resides in the palm of the consumer and the App experience.

Leave a Reply

Recently Viewed

No data was found

Latest Articles

Youtap
7 July 2022

Open Banking Not Just A Bunch Of APIs

Traditionally, it has been difficult for consumers to share consistently and securely [sensitive] information with…

Youtap
20 June 2022

Customer-Centric Banking

As digitization changes the nature of products and services offered by the banking and financial…

Youtap
6 June 2022

Neobanks driving recovery

During the pandemic, the number of neobank entrants exploded, targeting retail and small-business with their…

Youtap
28 April 2022

BaaS and Neobanks

The rise of FinTech has not been an overnight occurrence. Instead, the banking and financial…

Youtap
10 April 2022

INNOVATIVE AGRI-TECH.

Innovation in today’s globalized economy is integral to survival. Innovation and development in key economic…

Youtap
5 April 2022

Neobanks are changing the financial landscape of Latin America

Africa's transformation to digital wallet technology and mobile money began more than a decade ago.…

Youtab Search