Understanding Digital Banking Innovation and Transformation
Course Info
Code IND12-101
Duration 5 Days
Format Classroom
Course Summary
Banking, like most sectors, has undergone a rapid transformation with the introduction of digital innovation. Banking has a vast depth online that is much more than just payments, e-wallets and cards. Staff working in banking must have their finger on the pulse of new and imminent technologies.
The customer journey has been revolutionalised by innovation, but this has not always been easy to come to terms with. Delegates of this course need to understand how customers from different generations cope with these changes and learn how to support technophobic people. Of course, the very foundation of banks has changed, and like many other industries, we are seeing the demise of the bricks and mortar high street banking building.
The pandemic has had a massive impact on many areas of life, and there is a new normal that now applies to banking. Agile working needs to be employed to ensure that institutions can compete in an increasingly competitive world. Every business area is impacted by digital transformation, and we must change to survive. The skills taught in this course will help you lead your team in the transformation and ensure that these new trends are embraced and become part of the culture.
- Understand the latest digital bank trends and technology innovations
- Reinvent the journey customers take to ensure needs are met while delivering value
- Understand how the COVID-19 pandemic changed the way we engage with customers
- Explore whether there is a threat to banks from FinTech’s and what financial institutions should do about it
- Understand FinTech’s and how they impact customer experiences
- Show how collaboration with FinTech can assist banks
- Understand challenger business and alternative lending
- Develop a Technology Innovation Strategy
- Increase value and reduce waste from investment
- Develop optimisation, risk and streamlining strategies for digital innovation
- Be familiar with global digital banking trends and how they impact customers' behaviour.
- Be confident in driving digital transformation and change
- Be familiar with The Digital Transformation Journey - resources and capabilities.
- Be confident using digital trends to provide excellence
- Be clear on the role of Disruptive Technology
- Be confident in driving digital
- Retail Banking Leaders
- Departmental heads
- Digital & Electronic Channel Managers
- Retail & Electronic Banking leaders
- Digital, Mobile Heads & Leaders
- Strategy, Risk, HR Executives & Managers
- Digital/Mobile Executives and Directors
Teaching takes place in a variety of settings including face to face in a classroom environment and will ensure that participants can expand their knowledge of the subject and increase their skill set. The course is delivered via various methods by a specialist tutor. This will include PowerPoint presentations, reviewing articles and other relevant materials, group or individual exercises and discussions. There may be some independent work set, and the course will involve a requirement to submit articles to demonstrate understanding and an end of course test. Note-taking is encouraged, and you are welcome to use electronic devices to do this.
The course manual will form part of the learning but give you references for the future. You are encouraged to ask questions and, if needed, spend time one to one with your tutor to go over any issues. During your time in the classroom, you will be able to network with peers in similar roles.
Course Content & Outline
1. The Digital Innovation and Transformation in Banking
- What innovations in technology impact banking
- Digital banking innovation around the world
- How banking behaviours and activities are impacted
- Digital transformation is constantly evolving
- Understand fake transformation
- Ensuring banks stay relevant in this fast-changing world
2. The Customer Journey in Banking
- How Covid-19 changed the customer experience
- Post Covid-19, what is the new normal
- What is the digital customer journey
- Understanding what a customer needs
- Delivering a seamless customer experience
- What shapes the way customers view technology
- Generational challenges for customers with digital banking
3. What is Agile Banking?
- What is agile banking?
- Getting started with agile banking
- The need to develop a Technology Innovation Strategy
- Building confidence in driving the digital in your company
- The Digital Transformation Journey - resources and capabilities
- Increase value and reduce waste from investments
- Optimisation, risk management and streamlining strategies for digital innovation.
4. Moving Forward
- Digitisation: Impacts on product design, marketing and profitability
- How can you drive revenue with lower margins?
- Social media and other new banking channels
- How to pinpoint your focus with new channels
- Security in an electronic world
- Addressing customer concerns
- Communicating effectively
5. Fintech and the Future of Banking
- Fintechs and how they impact customer experiences
- Is there a threat to banks from FinTechs
- What financial institutions should do FinTechs
- Why collaboration with FinTech can assist banks
- What is Disruptive Technology
- What are challenger business and alternative lending?
- What is the future of banking
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