Process automation is helping all industries transform. Banking institutions in the experience economy are no exception and are anticipated to exceed expectations. As technology becomes more prominent, change is seen in the way banks deal with each other and their customers.
We will be exploring the benefits of using the intelligent bank with SAP and what that means for the future.
The next generation of Enterprise Computing will be defined by intelligent technologies, like AI, Machine learning, Big Data, IoT and Blockchain. We will see highly automated processes, massive connectivity and a combination of these technologies working together. Most importantly we will have a lot of data driven insights since data intelligence is the main purpose of digital transformation.
As we take a deeper look into banks shifting from product centric to customer centric, aiming on becoming a “digital bank”. Falk Rieker who is the Global IBU Head for Banking, SAP, stated in a recent interview, that “It all comes down to Intelligent Connective Banking”.
Banks and Technology…
Banks and other financial institutions have the responsibility to take initiatives in bringing financial services to under-served customers, while creating opportunities for individuals, businesses and economies. Banks have to become a platform for digital services. In a whitepaper recently issued by SAP, it stated that “By 2025 the role and revenue streams of banks will fundamentally change. A significant portion of bank revenue will come from non-banking services. Banks will act as platforms for digital services”. The act of shifting daily tasks from humans to automated business systems enabled by machine learning is part of the process in building intelligent banking. Banks will become intelligent enterprises.
SAP for Banking…
The digital economy is changing the way we live, work and function as a global society. The goal of every bank is to become a customer value-oriented digital organization that extends beyond traditional banking. An agile end-to-end, digitized business process for your bank to provide superior customer experience. SAP for Banking & Financial services is very useful for mobile banking, digital banking and other banking technologies. It allows your institution to connect the dots in real-time and convert insights into meaningful action. With SAP for Banking & Financial services you can:
- Be customer centric
- Manage finance & risk compliance
- Reduce cost & complexity
SAP has specifically designed a portfolio for core banking and banking analytics to help your institution attract acquire, grow, manage, report and analyse better than ever. They helped banks reach unbanked customer segments and offer ways to open accounts in non-branch environments.
SAP provides the latest innovations in deployment models offering a set of fully integrated cloud-based business service.
Your Path to Intelligent Banking…
At TYCONZ (SAP gold partners), we are ready to provide you with an end-to-end plan for your banking institution to become an intelligent organization. With proven best practices and deployment options we will optimize your business for continuous innovation guaranteeing intelligent outcomes.
Discover the journey with Us:
- Plan – for simplified and innovative SAP intelligent Enterprise Framework.
- Build – after years of experience, we have the best proven practices.
- Run – on all deployment models and end-to-end on premise support.
- Optimize – for continuation and innovation.
Reach more customers and new levels of trust with a real-time intelligent enterprise and integrated financial insight and risk control using SAP solutions for banking. Start running better and winning bigger today!