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From Appliances to Apps: What Does Digital Mean for Banks’ Products and Services?
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Guest
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Guest,
User Rank: Apprentice
3/6/2014 | 12:03:40 PM
re: From Appliances to Apps: What Does Digital Mean for Banks’ Products and Services?
Very well said, banks still working in same old age. Its time to change everything. I appreciate many banks taking a good step in doing modernization like they are bringing apps, new feature. which cut customer time. This may be further accentuated by the disparity in supervision and regulation between banking organizations and non bank financial services firms.
KBurger
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KBurger,
User Rank: Strategist
1/31/2014 | 7:54:48 PM
re: From Appliances to Apps: What Does Digital Mean for Banks’ Products and Services?
Very interesting, Arjun. I wonder what these trends & realities mean for how banks should be thinking about their core systems. If traditional products, services and channels are indeed "legacy", does that mean core system modernization is a waste of money? Or does it mean that banks need to think differently about what core modernization means in terms of the types of products, processes and channels it needs to support? Are we looking at actually moving beyond core modernization to where it's less about a lending, savings or checking application and more about infrastructure that supports fast-changing types of products and transactions? What do you think?


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