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Lec 5

banking

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15 views4 pages

Lec 5

banking

Uploaded by

youssefbassem1903
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Digital Banking

1. Digitization :
Creating a digital representation of physical objects.
Ex. : Scan a paper document and save it as digital document ( pdf)

2. Digitalization :
Using digital technologies and information to transform individual institutional
operations .

3. Digital transformation :
Process of optimizing , Transforming the institution’s operations, strategic, directions
and shifts in culture, Workforce and technology.

• impact on organization:
Revenue Growth
competitive advantages
Customer Needs
Operational Efficiency

• E Banking ( online , Internet , Web ) :


Electronic payment system that enables customers to conduct a range of financial transactions
through financial institution ' s website through the digital platform

Advantages:
1. Convenience
2. 24/7 Facility
3. Faster service
4. Quality service
5. Security
6. Control
7. Benifits beyond banking
8. More cheaper
9. competitive advantage
Risk management :
1. Assessment
2. Personal and physical security
3. Scan Bank System

Ex. : Online banking , Mobile banking , ATM , Phone banking , Debit Card , POS ( point of sales )

Challenges:
1. Shift in Banking ( habits and product)
2. Security concerns
3. Technical issues
4. Lack of personal relationships
5. Growing customer expectations

The Future is Now ( Trends ) :


1. Mobile Banking:
Mobile banking has become a popular choice for many customers due to its
convenience and ease of use.

2. Personalised banking
As customers demand more personalized services, personalized banking is set to become
the norm in the banking industry.

3. Voice Banking :
Voice assistants such as Amazon’s Alexa and Google Assistant become more prevalent.
Customers can use voice commands to perform banking transactions, making banking even
more convenient and accessible.

4. Augmented Reality (AR)


Customers’ interactions with banks are likely to be transformed by augmented reality, which
will allow them to access banking services through immersive experiences.

5.Cybersecurity :
As digital banking grows in popularity, cybersecurity will become even more important. To
protect customer data and prevent cyber attacks, banks will need to invest in advanced
cybersecurity measures.

The phases of Digital Evaluation :


1. Adapt
2. Evolve
3. Re-Think
Channels :
1. Human based :
Like branch
2. Hybrid based ( Mix ) :
Like call centre
3. Digital/ Self service :
Online banking

• Mobile payment Technology :


Is transfer or payment of funds typically to a Person, Merchant or business For bills , Goods , Product or
services through a portable electronic device such as Mobile or Tablet

Ex : M-Pesa , INSTAPAY
Comparison Traditional Bank Digital Bank

Service platform Physical banking Web or Mobile

Market Entry Up to 100 Years Up to 10 Years

Bank office There is an actual bank No actual existence

Client relations Long term Flexible & virtual

Customer support In – person , phone, Phone & Online


online
Fees High and complex Low and Transparent

Banking licence Entire None , Partial or Entire

Confirmation process Long Instant

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