Digital Insights

Going digital means something different around the world. In places where automation has been a given over the last 30 years, it might mean having to deal with the installed base, accepted behaviour and ways of thinking and thus bridging into digital on a step by step basis rather than going ‘feet first’. Cash for one is still part of our daily lives and as such ATMs will be part of the landscape for years to come. But we can digitise their maintenance, digitise the access to cash through mobile phones, etc. A lot of our digital money is still ‘card’ based, often not because of technology but we love the services around the card: insurance, tight security, loyalty, dispute etc. So the card goes from plastic to digital carrying similar useful characteristics in a more relevant way.

Open Banking, in Europe fuelled by the PSD2 legislation and in Asia by sheer consumer demand, is another prime example of how traditional banking is made truly relevant by the deployment of digital technology. Users can offer access to accredited fintech services that are meaningful to them through a (bank) portal that allows them to give consent on a micro level. Eco systems emerge where banks and payment institutions join forces to offer relevant financial services to customers on a personalised level, rather than investing in large product push campaigns. The deployment of technologies such as AI, Machine Learning, location based tools makes all this possible. Join the BPC team that travels the world to implement ‘digital into real life’ for a sound yet inspiring journey.

 

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