In today’s fast-moving world, the process of doing business seems to become more complicated with every day that passes. Processes, systems and business models are constantly evolving, while banks and their customers must learn to operate in an environment that is defined by continuous change and an increased focus on the value of data.
It is not possible to remove complexity from every business process that exists. Nevertheless, digital tools can at least simplify banking by offering banks’ corporate customers greater efficiency, deeper insight into their financial information, and a higher degree of personalisation than they have ever had before. Today, companies can take advantage of digital banking platforms with enhanced dashboards that are powered by artificial intelligence, such as CoCoNet’s platform MULTIVERSA FIP.
Smart, personalised dashboards enable users to gain quick and efficient access to important financial information, optimise their workflows and to benefit from intuitive user interfaces.
User-friendly security is also hugely important today. While customers want more secure systems, they don’t want additional security to result in additional complexity. Rather than having to rely on cumbersome external security devices, such as smartcards or RSA tokens, to log in to their online banking platforms, they would like to use digital security tokens instead. They want to be able to download these security tokens from their bank’s online portal – something that is now possible with the latest technological solutions.
User-friendly security is also hugely important today.
Digital technology is not only making life simpler for banks’ customers; it is also making life simpler for banks themselves. New solutions are helping banks to improve their internal processes and support them through their digital transformations.
Banking might be a complex business, but the same does not have to be said for the user experience in digital banking. Next generation solutions offer the kind of functionality that people only dreamed of not long ago. What’s more, they are bridging the gap between banks’ increasingly complex operating environments and their customers, who want a simpler – but better –experience than they’ve had in the past.
Over the next few years, we can expect to see digital banking evolve even further to reflect new business models and ways of working, as well as the new opportunities presented by emerging technologies and broader data sets.