Financial services and the digital revolution

20 Nov 2014
Rebecca Zabow, Senior Business Analyst

This month Komosion attended the 9th Annual Technology & Innovation - the Future of Banking & Financial Services' conference, covering customer experience within the banking sector.

Leaders from Westpac, NAB, Barclays and ING Direct spoke about the challenges of moving from a product-centric structure and culture to a customer-centered organisation.

Banking appears to be leading the charge in terms of customer expectations. Customers are demanding ever faster digital transactions and expect a seamless experience across online and offline channels.

There is a clear focus on data & analytics - to draw value from information captured through transactions through real-time data analytics.

Challenges discussed at the conference ranged from technology infrastructure and data storage to cultural realignment and training. All were specifically grappling with the challenges of providing a personalised customer experience seamlessly across channels, and how they can embrace the mobile wallet, contactless and P2P payments and the latest 'wearable' technology.

Dave Curran, Group Chief Information Officer, Westpac, talk about how digital innovation is reshaping the financial services industry, breaking the shackles of legacy in a world disrupted by converging technologies; social, mobile, analytics and cloud (SMAC) and bringing together business and technology to deliver innovative customer-focused solutions.
Click here to listen