digital banking transformayion

1. What is the future of
digital banking
Transformation?
1

2. “It’s no longer a question of if the
future of banking will be digital
Transformation. The answer is a
resounding “yes!” ”
2

3. Between evolving
customer expectations
and a pandemic-
prompted acceleration
of the financial services
industry’s digital
transformation, digital
banking has become a
basic requirement for
most banks. Today,
traditional banks have
no option but to adapt in
order to remain
competitive.
Future of digital banking
Transformation
While most banks still
focus on building
customer-centric digital
banking solutions to
compete with modern
fintech options, many
banks have learned the
value in allowing fintech
companies to leverage
their “banking as a
platform” (BaaP)
options to partner in
accessing new
customers.
3

4. Future of digital banking
Transformation
So, what does the future
of digital banking hold?
The future of digital
banking will see banking,
payments and investment
solutions merge into
simple, secure and
comprehensive apps. By
providing access to
solutions previously only
available to the wealthy
via their private bankers,
digital banking services
are creating full suites of
financial services that are
increasingly borderless
and absent of actual
bankers themselves.
The future of banking will
not only look different due
to more rapid digital
adoption, but in a post-
pandemic world,
consumers will increasingly
demand physically safe
access to banking
services. From contactless
payment options and the
ability to pay someone
electronically to instant
visibility and access to
accounts, consumer
expectations have
shifted—and banking
services providers must
pivot accordingly.
Fintech companies, by their
very nature, create new
products and solutions to meet
these constantly changing
demands by wrapping
technology around the core
banking functionalities. We
have apps to organize our
pictures, our friends, our
favorites, etc., and the future of
digital banking will bring
financial technology tools to
help us organize our financial
well-being, as well. Structured
around our goals and income,
digital banking solutions must
meet customers’ financial
needs in a connected,
seamless manner.
4

5. Savings accounts should
have sub-accounts for each
of our unique savings' goals,
whether the objective is a
new mountain bike or a
family vacation. Investment
accounts should also be
designed around goals like a
down payment on a house or
retirement. And much like
private bankers, who help
their clients access the best
ways to borrow, spend and
save their money based on
their unique portfolio and
needs, the future of digital
banking will involve digital
apps acting as a private
Future of digital banking
Transformation
Borders become blurrier
every day as our global
community grows along with
the need to spend and
receive money from
anywhere in the world.
Whether traveling abroad,
buying products from other
countries or becoming an
expatriate, the need for
multicurrency cross-border
banking and payments
solutions dramatically
expands on a daily basis.
Fortunately, the future of
digital banking will simplify
and support global banking
solutions. 5

6. Future of digital banking
Transformation
This approach to
the future of
banking will bring
instant visibility
and direct access
to loans,
insurance, bill
payment tools and
credit solutions
that are
prequalified and
tailored to an
individual’s
distinct situation.
Artificial intelligence and
customized digital
solutions mean there
really is no need for
bankers in the future.
From the decline of brick-
and-mortar bank locations
to cardless payments and
the rise of fintech services
and personalization, the
future of digital banking
appears bright, but
evolving consumer
expectations require a
new level of innovation
and forethought.
the age-old proverb says,
“If you give a man a fish,
you feed him for a day. If
you teach a man to fish,
you feed him for a lifetime.”
The future of digital banking
is teaching consumers to
“fish,” or manage their
entire financial well-being
by providing access to ever-
evolving digital tools
customized to their specific
financial inputs.
6

7. The 5 reasons why digital banks are the future of
banking.
The pandemic
The pandemic made
people sign up and use
digital banks much faster
and in more significant
numbers than usual,
solidifying their role as the
future of banking.
Ease of use
This is probably the biggest
reason why you would sign
up for a digital bank
account. It’s just so easy to
download the app and
apply for an account in a
matter of minutes. Fast
approval times let you start
banking almost instantly.
Fees
Now we’re getting to
the fun part. The fees.
This is where digital
banks and traditional
banks differ the most.
While traditional
banks are trying to
fleece you of your
last penny with an
abundance of fees,
digital banks.
7
Overhead
The good side is that digital
banks have no overhead
because they don’t have
branches and loads of staff.
Those are remarkable
savings that can and are
passed on to the
consumer.
Technology
This is obviously a big one.
As technology is moving
forward year by year, the
number of people that were
born after the internet was
already a common thing is
rising as well. Young
people.

8. The risk of
digital banking
transformations.
8

9. The risk of digital banking
transformations.
9
The types of risks encountered by digital banks, digital
financial services and other fintech firms are compliance
risks, cyber risks and credit risks.
Generally, these risks are significantly higher for all
these organizations compared to non-fintech firms.
fintech firms, which include digital banks and digital
financial services, possess higher value-at-risks
compared to non-fintech firms.

10. 1 0

11. INSTRUCTIONS
╸ Today, we can access many banking
services online. Some of these services
include paying bills, transferring funds, and
viewing account statements. Banks also
deliver their latest products and services over
the internet.
╸ Internet banking is performed through a
computer system or similar devices that can
connect to the banking site. Nowadays, you
can also use internet banking on your mobile
phones, using a Wi-Fi or 3G connection.
With the easy availability of cyber cafes and
mobile phones in India and China, online
banking has become quite popular. 1 1

12. Today, we can access many banking
services online. Some of these
services include paying bills,
transferring funds, and viewing
account statements.
Internet banking is performed through
a computer system or similar
devices that can connect to the
banking site. Nowadays, you can
also use internet banking on your
mobile phones, using a Wi-Fi or
3G connection.

13. Advantages and
Disadvantages of
Digital Banking

14. Ways to improve digital
banking
Simplify Financial Concepts with Explainer
Videos
Make Your Website the Main TouchPoint for
Customers
Create a YouTube Channel For Information
Rich Content
Email Marketing
Mobile Marketing
1 4

15. 1 5

16. Benefits of digital banking
VS traditional banks
Digital banking is quite
different from traditional
banking and it offers a
range of outstanding
benefits to consumers and
businesses. We’ve
outlined six major
advantages of digital
banking versus the
traditional method
1 6

17. 1 7
Easier
access
The definition of 24/7 now gets completely new
meaning ,you will conduct most of your
banking business as well as resolve any issue
you may have
Better
Pricing
model
What we mean is that the pricing models are
different and custom to end clients but and formed
in such a smart and effective way that ultimately
enables businesses to expand and grow further in
the digital economy.

18. 1 8
Automated
services Automated services help customers find
better banking products than those they
currently have
Time
efficiency
.
With digital banking, all of the processes are
handled online and, because of this, everything
moves much more quickly. Decision and
business processes too.

19. 1 9
Regulatio
ns and
standards
Digital banking service are also on the
radar of regulators and do over go the
same procedures and regulations as
traditional banks
Excellent
Customer
Service
.
digital banks have to go above and beyond when it
comes to making customers comfortable with the
format and work with really effective KYC
standards and procedures

20. One platform. Multiple banks
a Virtual IBAN provider, working with a
network of established European based
banks. We can provide ecommerce
merchants with multiple bank accounts at
multiple banks.

21. top features for great customer
experience in digital banking
2 1
Convenient account opening in minutes
Account-to-account (A2A) payments
Personal Finance Management
Personal digital card management
Scheduled payments
Intuitive loan applications
Timely notifications
Trustworthy security

22. Features Consumers Look for in a Bank
 Convenient Location.
 Availability of ATMs.
 No Fees and Low Minimum Balance
Requirements.
 FDIC Insurance.
 Good Customer Service.
 Free Online Banking and Bills Payment.
 Competitive Interest Rates.
 Free Checking Account.
2 2

23. ways to improve
customer service in
banks
customer service is a vital
component of a quality customer
experience because it directly
impacts how your customers engage
with your organization
2 3

24. - Promote Financial Literacy through Customer
Education .
- Become a Trusted Advisor to Small Business
Customers .
- Make Contextual Data a Core Component of Your
Customer Service Strategy .
- Develop a Truly Omni channel Customer Experience .
- Provide Customers with Self-Service Opportunities .
- Set Your Employees up for Success
- Solicit Customer Feedback Whenever Possible
- Be Flexible and Open to Change
2 4

25. - Online, mobile, and tablet banking.
- Mobile check deposit.
- Text alerts.
- E Statements.
- Online bill pay.
2 5
digital services provided by banks

26. - Banking cards (Debit/credit or prepaid cards)
- Unstructured Supplementary Service Data (USSD)
- Unified Payments Interface (UPI)
- Mobile Wallets.
- Bank Prepaid Cards.
- POS (Point of Sale) Terminals.
- Internet Banking
2 6
Methods of Digital Payment

27. Misr Digital Innovation (MDI), is
gearing up for launch in Egypt as the
country’s first fully digital bank, with
the aim of giving Egyptians instant
access to their finances and
improved customer experience
Created in 2020 by Bank Misr, one of
Egypt’s leading banks, the new
digital bank aims to provide banking
solutions, access to the digital
economy and drive financial
inclusion within the Egyptian
community
Case study
2 7

28. ╸ Open additional account/ Islamic account / Issue time deposits /
Buy saving certificates
╸ Display accounts summary in Egyptian and foreign currencies, as
well as cards and exchange rates
╸ Request a debit or credit card / Temporarily deactivate card / Pay
credit card /Apply for a loan
╸ Transfers to accounts within the bank
╸ Request a cheque book
╸ Adding ongoing instructions and preparing lists and favorites
╸ Pay all your due bills
╸ schedule the next branch visit
╸ Transfer to any wallet inside Egypt
╸ Transfer to any card inside Egypt
╸ Transfer to any credit card inside Bank Misr
╸ Transfer from your account to any other account outside Egypt
Bank Misr developed its internet and online banking system BM Online,
allowing users to enjoy the comfort of safely, easily, conveniently and
quickly taking care of their banking needs. Services include transactions,
and accounts and cards reviews
2 8

29. BM Online systems guarantee you secure
transactions using OTP, which is an
innovative additional security feature,
provided using the BM Token app available
on Google Play and App Store. The BM
Token app is used to carry out online
payments, transfers between accounts, pay
out credit cards, issue time deposits and
purchase saving certificates. You will
receive a one-time password, usable for a
few seconds only, to carry out each
transaction.
2 9

30. E- Banking is playing a
major role that it's
improving the service
quality and strengthens
the banking sector
because of the electronic
payment there is increase
in customer satisfaction
level, increased
productivity, reduction in
cost of banking
operations, settlement
faster and in large
volumes
The results show that e-
banking has increased
the profitability of banks;
it has enabled the banks
to meet their costs and
earn profits even in the
short span of time. The
illiteracy of customers is
not regarded as a major
impediment in provision
of their products and
services
3 0