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What is the future bank going to look like?

Writer's picture: Daniel RudisDaniel Rudis

The banking sector has come a long way since its beginnings, but the pace of change in recent years has been unprecedented. With the advent of digital banking, traditional branch-based banks will soon be a thing of the past.


One of the main reasons for this transformation is changing customer expectations. Customers today expect a seamless, fast and convenient banking experience. They want to be able to access their accounts from their smartphones, receive personalized services and tailored products that meet their specific needs.


To meet these changing customer expectations, banks will have to increase their reliance on data analytics and artificial intelligence. They need to analyze customer data to better understand customer behavior and offer more targeted services.


Although it may feel like self-deprecation, banks will also leverage new technologies like blockchain and cryptocurrencies to remain competitive. Blockchain has the potential to revolutionize the banking sector by enabling secure and transparent transactions, reducing the need for intermediaries, and lowering costs. Cryptocurrencies, in turn, have the potential to transform traditional banking by enabling fast and cheap international payments and enabling customers to hold and transfer value without the need for a bank account.

Digital transformation may be the buzzword of the day, but for banks it is a critical requirement for success in a changing business environment. Technology will continue to drive business growth and play a central role in delivering a wide range of services and providing the best customer experience.


Despite this transformative outlook, humans will continue to play an important role in the future of banking. The responsibility for maintaining these AI systems and oversee the functioning of machine-driven decision making and ensure that the risks associated with automation are minimized, banks and financial institutions need digitally literate bankers.

Professionals will always be needed for developing new technologies and strategies to improve the customer experience on an ongoing basis. Additionally, humans will be responsible for creating and managing new financial products and services that are tailored to meet the needs of customers.


Above all, managing customer relationships is inherently a human endeavor. With personalization being one of the key aspects of next gen banking, the need for skilled staff who can help bridge the gap between textbook automation and human delivery will be as high as ever.


In summary, banking is in a state of flux. New technologies and changing customer expectations are forcing banks to innovate and adapt. The future of banking will likely be characterized by a combination of traditional banking services and new technologies such as artificial intelligence, blockchain, and digital currencies. Banks of the future will focus more on providing a personalized and tailored experience for their customers.



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In the present digital age, where technology is integral to banking operations, ensuring data security has become crucial. At Digipal, even though we don't handle client identifying data (CID), we treat portfolio information as highly sensitive data and we have implemented stringent measures to ensure confidentiality. Our servers comply with industry standards for data security. Additionally, our APIs employ state-of-the-art encryption technology during data exchange. Furthermore, when designing our platform's workflows, we took care to ensure that portfolio data is not shared with other online service providers. Our commitment to data security remains unwavering.

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