Banks and other organizations need to go beyond offering customers a product or a service and own the experience instead.
SunTec, hosted its flagship event, ‘SunTec Confluence’. The theme for this year’s Confluence was “Digital at the Core”, an essential strategy in today’s world, as leading organizations seek to digitally transform, modernize their legacy systems and build a new core that is intelligent, immersive, integrated and invisible – one that can help in creating highly personalized customer experiences.
The event highlight was the keynote address by Brett King, co-founder and CEO of Moven. As a futurist, he visualized how four major trends - Artificial Intelligence, Voice based Artificial Intelligence, Smart Glasses and Machine Learning – are changing the ecosystem dynamics and how these will need to be embedded in customer experience journeys across industries like banking, telecom and retail.
“Access to credit is not the same as needing a credit card”, Brett explained, “It’s about creating an all new Credit experience, where banks can predict and assist your daily life credit requirements without a credit card and how open banking can tie all these data together for the banks”.
Nanda Kumar, CEO of SunTec, talked about the ever-pervasive effects of Industry 4.0. He stressed upon the need for organizations to understand and embrace the ‘basic human-needs’ driven approach if they want to succeed in today’s digital world.
The key takeaway from the event was the growing need for organizations to focus on the ‘Customer Experience’ part of their Digital Transformation programs. Replacing the core is not a viable option for most banks and this is a big hurdle for modernization projects – but not anymore.
Digital Transformation is gaining priority for organizations across the globe, the main drivers being the opportunities it presents and the competitive pressure to stay ahead of the digital curve. Banks and other organizations need to go beyond offering customers a product or a service and own the experience instead.
Amit Dua, President, SunTec, said, “Via Confluence, our goal is to provide a meaningful platform for industry thought leaders to come together and deliberate upon the state of Digital Transformation. The response has been extremely positive with generous appreciation for the high-quality content. We are delighted to have delivered to expectations of our clients and partner eco-system in helping shape the Digital Transformation roadmap for the industry”.
