The current wave of digital transformation is being driven by technological advancements such as artificial intelligence, robotic process automation, blockchain, the internet of things, and APIs that can potentially change the banking landscape. Combining these technologies will deliver more profound levels of personalization, enhance customer experience, and transform banking operations, revolutionizing the way banking operates presently.
The growth of digital banking technology has not only changed the way customers interact with their financial institutions but has also altered traditional business processes and business workflows. With the pandemic hitting hard and closing branches practically overnight, customers had to switch to online banking and use digital transactions for the most part. Although banks were in the phase of reimagining their customer experience, the COVID-19 situation accelerated their adoption of digital technology to meet customer needs and expectations.
Banks are now turning their attention toward building better customer-facing digital experience and investing in automation technologies and chatbots to improve virtual communication with their customers. To build deeper relationships with customers, banks are leveraging the power of data to customize their offerings and are delivering them over a customer’s preferred channels for better engagement and response. It is well-known that for long-term customer engagement and stronger ROI, companies need to implement digital banking solutions and engagement practices. On that note, this edition of Banking CIO Outlook features some of the leading-edge banking solution providers in the Middle East that are revolutionizing the landscape with their offerings.
We present to you Banking CIO Outlook’s, “Top 10 Digital Banking Solution Providers in Middle East - 2020.”