To re-establish trust and build loyalty among customers, the current environment makes it necessary for the CXOs to act fast for sustenance of businesses, as well as to stay ahead of the competition.
It requires radical thinking and vision to transform the bank to gain a competitive advantage, as well as to be profitable. Disruptive innovation is the need of the hour for the banking industry.
Innovation just went from the category of "nice-to-have" to "need-to-have". Today's banking industry is faced with tough circumstances. There is fierce competition, regulatory compliance pressure, inefficient processes, productivity issues, profitability pressure, ageing technology and systems, customer retention...the list goes on.
Just imagine how overwhelmed the CXOs tackling these manifold challenges are today.
The demand for greater agility, customer responsiveness to diverse customer preferences that demand personalized services and convenience banking experience means banks worldwide must step up efforts to increase front-office effectiveness, by embracing modern, innovative technologies and processes.
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The Road to Disruptive Innovation for CXOs
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