Articles and opinions by Richard Hartung
Bots deliver better customer experience
As retail banks look at how to deliver an even better customer experience, while also bringing down expenses and improving efficiency, chatbots are becoming an increasingly popular option for adding high value at a low cost.
How digitisation powers DBS to profitability
While much of the focus for quarterly results at DBS was on profits and non-performing loans, the impact of digitisation on expense reduction was striking and the bank’s plans for the next ten years pave the path towards even greater efficiency.
Data analytics drives retail banking
As data analytics becomes nearly ubiquitous in most parts of consumers’ digital lives, leading banks are providing digitised solutions that deliver the right offer at the right time, predict fraud so they can reduce risk, and boost cross-sell rates.
Robots take over retail banks’ back offices
In retail banks around the world, robots are making their way into the back office and reducing costs by as much as 80% while increasing accuracy by up to 100%. Along with bringing lower costs and greater efficiency, they’re also creating the complexity of redeploying people who have performed routine tasks for many years.
The rise of APIs in retail banking
Financial institutions are starting to use APIs to create important linkages between their products and services and their customers and important third party value providers. Early movers to stand to gain mindshare of both customers and the wider application developer community.
Robo-advisors poised to take off
Customised financial advice had, for many years, been available almost exclusively to private banking clients or to the mass affluent. However, robo-advisors are offering the same advice to many more consumers. Customers in Asia, from the man on the street to the ultra-wealthy, seem ready to embrace these new robo-advisors.