Cloud Adoption- An Essential Proposition for Powering the Digital Transformation Journey of Banks
Since ages, the Art & Science of doing Business revolves around placing Customers at the center of Business growth & aspirations. Successful businesses follow the “Customer first” Strategy wherein the focus is to meet the growing needs of the customer, serve them & delight them. This also implies that these businesses are open to “CHANGE” because meeting the needs of the customer in the new era of disruption is synonymous to keeping pace with the fast-evolving Digital Transformation happening across all industries. The same holds true for the Banking Industry as well.
Customers are banking very differently in the digitized world. The picture was not the same say two decades ago when more than 50% of all banking transactions occurred within the branch & the major chunk of service delivery happened inside the premises.
In today’s world, more than 90% of all transactions are happening through Digital Channels. Banking is NOW “Anytime, Anywhere”. With this ease of “Just in a click”, banking transactions have increased exponentially and as customers are adopting fast to the digital change, banks need to redesign & revisit their IT Infrastructure too. This is essential to meet uninterrupted Operational efficiency & seamless Customer Journeys.
The journey towards Digitalization of business processes has never been as accelerated as Now!
Hence, a strategic cloud adoption program provides an agile IT foundation for banks that enables them to respond quickly and effectively to disruptions in the business environment. Cloud provides a flexible IT infrastructure that can be scaled up or down, on-demand, with ease. It gives banks the agility to match their newer and smarter counterparts, such as challenger banks, FinTech firms, and giant technology companies.
The new digital players are setting benchmarks in customer experience with highly personalized services and great user experience design. With cloud, banks & Financial Institutions can embark on a journey of offering personalized services at scale as well as delivering superior experiences to customers
