Digital Transformation in Banking: Making Progress and Hitting Roadblocks

#Digital Transformation in #Banking: Progress and Roadblocks

 

#fintech #CIO #AI #IT #tech

  • One third of banking executives participating in a study said that marketing owns the end-to-end customer relationship, but only 14% feel that marketing should own their institution’s digital strategy.
  • As financial institutions look at how best to adapt their current practices to meet the needs of customers across an expanding array of digital channels, banking executives look for insights to inform their digital transformation strategies.
  • With 87% of the financial institution respondents saying that technology is intrinsic to digital transformation and must be considered in tandem with strategy, it’s a natural fit for CIOs to lead the way in vetting and implementing the technical platforms and solutions that will form the backbone of an organization’s digital strategy.
  • Still, a financial organization that can establish a culture free of silos – and carry out effective digital transformation quickly and successfully – will certainly earn itself an effective competitive advantage and be able to deliver a differentiated level of customer experience.
  • By incorporating advice from other industry leaders and fostering a company culture ready to embrace cooperation alongside new technology, financial institutions can best execute the digital transformations necessary to keep pace and potentially stand out in their industry.

Two out of every five financial institutions say they are only in the infancy of their digital transformation strategy.
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Customer Decision Hub: Predicting Buyer Behavior

Why wait? Pega's customers are using #AI, #MachineLearning and #CRM – today.

  • Apply predictive intelligence to every business decision.
  • We’ve got 50 percent of our conversations in branch driven by data.
  • Harness a single, intelligent decision authority that unifies decision management consistently and coherently across all channels.
  • Personalize every action across all channels to maximize the value of each decision.
  • Self-learning models fueled by contextual data improve inflight interactions in real-time.

Use customer and buyer behaviors and analytics to predict the next best action for their experience using Pega’s Customer Decision Hub.
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