How Banks Are Capitalizing on Pandemic-Fueled Digital Transformation to Serve Customers

In this episode of the Futurum Tech Podcast, Interview Series, host Shelly Kramer speaks with

Marc Andrews, VP of Financial Services and Insurance at Pega, to discuss how banks are capitalizing on pandemic-fueled digital transformation to serve their customers.

 

This conversation is intended as a preview to Pega's upcoming Pegaworld iNspire virtual event being held on June 2, 2020, from 9 to 11:30am EDT. This high impact, low time commitment, interactive virtual event is free, sure to be packed with great information, and also available on demand for all registrants. Register for Pegaworld iNsprire here.

 

Shelly and Mark covered a wide range of topics, including:

 

• The challenges banks face in servicing their customers as a result of the global pandemic, and how banks and financial institutions are capitalizing on digital transformation to improve almost every part of their operations;

 

• The impact working remotely presents for banks and financial institutions when handling an increased volume of requests and a different kind of customer requests than what they are accustomed to and a myriad of other challenges;

 

• The gaps or full on deficiencies in some organizations' digital capabilities and how the Band-Aid approach is out, and auditability, compliance, scalability, combined with the ability to shift resources as needed, is more important now than ever before.

 

• The fact that despite the rise of FinTechs — who often offer slicker, more seamless digital experiences — this crisis might actually give banks the chance to recover and thrive and the factors that influence that;

 

• What customers are looking for from their technology partners and what they seem to need the most;

 

• The role intelligent automation can play in helping banks and financial institutions manage processes and cases from front to back and to be able to deliver those quickly.

 

Marc shared some interesting customer use case examples and some innovative approaches that Pega customers are taking spurred by the pandemic.

 

There is a new way forward in financial services, and banks can use technology to increase their level of service, create and deepen customer loyalty, streamline processes, increase efficiencies, meet compliance objectives, and more effectively compete in what is an increasingly crowded marketplace.

 

Check out the show recap of the interview I did with Pega's Don Schuerman discussing how the pandemic might well be a catalyst a lot of businesses needed. You'll find that here: The Pandemic is a Catalyst a Lot of Businesses Needed – It's Time for a Massive Rethink.