What defines the digital agenda of banks and retail in the new reality?
- Geographic coverage is no longer an advantage.
- Development of cashless transactions.
- Changing client preferences.
- Offline becomes a privilege.
- Safe transformation or security transformation.
Add to this the state of the labor market, the demographic crisis, the focus on cost reduction, low labor productivity in Ukraine and you have a digital agenda.
Digital consumer experience, when most processes (from choosing a bank to paying in a store) become personalized and digital. Omni-channel contact centers will help, which provide seamless interaction across all channels available for service and speed up the processing of calls. Given the proliferation of online services, it is worth looking at the capabilities of load balancers on web servers, whose task is to prevent the situation when the number of requests from clients exceeds the specified system performance. For banks, the consumer's digital experience is also related to the issues of remote identification, support for EDS, Bank ID and the introduction of remote conclusion of contracts with individuals, providing for the existence of secure communication channels between the bank and the individual at the infrastructure level for the transfer of confidential and biometric data. Personalization also requires learning about the consumers and their preferences, which creates the basis for the use of AI and BigData tools.
The digital experience of an employee, when the IT infrastructure provides opportunities for teamwork, operating company resources, including remotely.
Cybersecurity. In our opinion, cyberattacks will only increase, and the biggest challenge is that the availability of technical security tools does not guarantee effective cyber protection. The role of technology ends where human intelligence is needed to analyze the situation and streamlined processes to respond. Therefore, in order to minimize vulnerability, achieve end-to-end infrastructure transparency, and implement investigation and response functions, we recommend taking a closer look at the Security Operational Center model, which integrates technical tools and processes into a single ecosystem to help specialists maintain continuous control and organizations to acquire cyber resilience.
Cost optimization. Considering the economic situation, the interest of companies in cost optimization is understandable. However, how to combine the need to develop IT infrastructure with savings? For many, the solution is to use subscription or managed services. This is a modern and affordable alternative to the development of IT systems, which allows renting technical equipment and a team of professionals. This is how you can start the path to building a cybersecurity system or implementing an omni-channel strategy and not damage the financial position of the business.
Finally, I want to note that the consumer is becoming more and more demanding and he is not at all interested in what price you will provide him with speed and convenience. He chooses those who are ready to change today.
Let us know how we at Acord Group can support you along the way: firstname.lastname@example.org.