Digital Transformation for Banking

By 2019, customers expect the banking industry to be digital: on their phones, computers and even smart watches. However, that is not the only thing that needs to be digitalized and rethought. Digital transformation is the next big thing for banking, but with it there are a lot of challenges ahead...

Difficulties With Meeting Customers' Desires

Although the customer‘s demand of digital transformation steadily increases, the deployment for banking still isn’t ready at scale. The existing idea of transformation and its implemented benefits are accepted, but it still is a rarity to be seen in the banking industry.

The problems are caused by existing legacy technologies and systems, as well as integration difficulties. Only 17% of the total digital transformation strategies in banking are deployed at scale.

Digital Transformation for Banking - Mendelson GmbH
Digital Transformation for Banking - Mendelson GmbH
Digital Transformation for Banking - Mendelson GmbH
Digital Transformation for Banking - Mendelson GmbH
Digital Transformation for Banking - Mendelson GmbH
Digital Transformation for Banking - Mendelson GmbH

Finding And Implementing the Right Technologies

In one of our former projects, we were approached by 4-finance to help them start their digital transformation. We started off by creating a strategy which was based on questions like “what do you want to get out of digitalisation?”. The company’s goal for their digital transformation was improving the customer experience and reducing costs. Keeping that goal in mind, we established certain workflow additions that will support and simplify client on-boarding. Another important factor was workplace transformation. We set up our management-platform that allows 24/7 access to all of the company’s data, which is a crucial step in order to keep up with digitalisation and create a modern workplace.

Finding And Implementing the Right Technologies

In one of our former projects, we were approached by 4-finance to help them start their digital transformation. We started off by creating a strategy which was based on questions like “what do you want to get out of digitalisation?”. The company’s goal for their digital transformation was improving the customer experience and reducing costs. Keeping that goal in mind, we established certain workflow additions that will support and simplify client on-boarding. Another important factor was workplace transformation. We set up our management-platform that allows 24/7 access to all of the company’s data, which is a crucial step in order to keep up with digitalisation and create a modern workplace.

Digital Transformation for Banking - Mendelson GmbH
Digital Transformation for Banking - Mendelson GmbH
Digital Transformation for Banking - Mendelson GmbH

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