Digital Banking

Copyright © 2020 by Boston Consulting Group. All rights reserved.

Digital Banking

• Journey of Digital Banking has started from Digitization

• With the rise of NEO Banks now focus has shifted from Serving
Customers to Offering Banking as Service.

• While Banks in India are still struggling to cope up with spurt in

financial transactions, Customers have already moved to enjoy
Demand based Services in all strata of daily life.

• Banking-as-Service is the Key for Banks partnering with FinTech

companies.
• From Brick & Mortar to Invisible Banking the route goes through
DIGITAL Banking

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Myths of Being Truly Digital
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Just adding new channels

Adding delivery of banking services on new devices

Enhancing same old banking business models with digital

technology

Giving legacy processes a digital facelift

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Automating existing processes without reimagining

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Adoption of Digital Banking System
• Innovation in Technology has introduced changes
in every sphere of life and Banking is no
exception.

• Banking services, are at the cusp of a

revolutionary change driven by technological and
digital innovations.
Scalability
Speed
Security • Along with Survival of the best, it is survival of the
most up to date technology which is key to attract
millennial customers

• In this transformation of Banking, 3 S – Speed,

Scalability and Security are the prime features of
any product which act as enabler for Satisfaction of
Customer which inter alia result in Customer
Acquisition, Retention and Cross Selling

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Banks coping with the technological upgradation

Major Enabler New Technologies

EASE Agendas have also played 249 Banks
its role in improved Digital Sales 3555.55 Third Party Artificial Intelligence
Journey right from Customer
acquisition to Customer
satisfaction. 641 Entity Machine Learning
377.94m Txn
Riding over the FinTech wave,
Banking sectors in India has Robotics
witnessed number of innovations 138 Entity Cloud based Hosting
during last few years 400.70m Txn
Cryptography

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Banks coping with the technological upgradation
Reviewing the current IT architecture of the Bank and identify gaps

Benchmarking Mobile Banking/Internet Banking of the Bank

Define the target state IT and data architecture including key priorities

Defining the blueprint and road map of the target state IT architecture of the Bank

Designing objectives and overall KRAs for the digital and related organization

Augmenting the technology, Creating the vision for technology and data architecture

Identifying digital skills and capabilities required by the Bank in various time horizons

Developing organization structure of the digital organization with defined roles and responsibilities

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Banks coping with the technological upgradation

End to End
Digitization Faceless
Onboarding

Designing objectives and overall KRAs for the digital and related organization

Designing customer communication and campaigns to on-board existing customers

developing analytics-based underwriting scorecards for various products/customer segment

Roadmap must focus both on UI and UX and should have linkage with backend processing as required

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Thank You