How Financial Firms Are Going Digital:

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Real Success Stories Rock Content Writer En 17, 22 | 5 min read As more customers seek competitive digital banking solutions, financial firms must be ready to develop innovative platforms to serve them Provide services. The digital transformation journey must begin as soon as possible, otherwise financial companies risk being overtaken by competitors, ignored by the industry, and losing profits. If this transformation is done correctly, companies, customers, and society as a whole can reap significant benefits. So, below we will address: What is digital transformation? Why is it so important to financial companies? Real cases of digitalization in financial enterprises Final comments What is digital transformation? Why is it so important to financial companies?

This reinvention of the business is what we call digital transformation, and it goes beyond traditional roles such as: Customer Service; Marketing; Sales. It’s a transformation that begins and ends with everything around the customer. You have to rethink how you do business and how you attract customers. By doing everything digitally, from planning to construction, you'll make yourself flexible, agile, and ready America Cell Phone Number List to thrive in the future. Once you successfully execute your digital transformation strategy, you can also expect to see higher ROI in the coming years. 54% of financial services companies have begun developing a digital transformation strategy, while 68% are already actively managing high-level strategy. As consumers become more digitally savvy, financial firms must be prepared to meet the needs of this new type of customer. Real-life examples of digital transformation in financial companies On average, 70% of companies that attempt digital transformation fail.

  How to go deeper into digital; how to integrate digital into the customer journey; how it can change company culture so that it not only feels digital, but operates like a real startup. DBS knew it wouldn’t get far if it focused only on the actual digital processes and put the necessary organizational changes on the back burner. It spent the first few years of its digital transformation laying the groundwork for its future implementation, including establishing a common platform to work with all its bank branches. This got him thinking about how to become agile, accelerate the speed of market efforts and the pace of innovation. Some useful acronyms have been developed to help the entire organization engage in digital transformation. Red – Respectful, easy to work with, and reliable in all things related to customer service. ATE – Acquire, Transact and Engage – customers do all of these things digitally.