A concept built on adaptability and innovation. The banking landscape is undergoing a seismic shift, with customer expectations and digital technologies reshaping the industry. As banks transform into “financial supermarkets,” embracing customer-centricity is no longer a choice. The Bank of 20XX, our vision of the bank of the future, emerges as a response to this transformation.
The journey to becoming the Bank of 20XX demands a holistic approach, marked by a shift to a customer-centric mindset, commitment to becoming “lifestyle partners,” and a complete reorganization around the customer’s unique needs. It involves embracing sustainability practices and striving to be omnipresent in the lives of customers, seamlessly integrating into their daily routines and addressing their evolving expectations.
Overcoming the legacy systems’ constraints, adopting cutting-edge technologies like AI, and fostering a data-driven culture are the stepping stones to success. The Bank of 20XX is not a distant dream; it’s a strategic choice and a leap into the future, aligning banking with the evolving expectations of customers.
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Interest based income is a key revenue generator for banks. Customers deposit their money with banks and are compensated via interest on the deposit. This money is then used by the bank for offering loans at higher lending rates. The balance between the deposit interest rate and the loan interest rate is the profit for the bank. With interest rates soaring, banks are finding it difficult to attract and retain customers.
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In this podcast, discover how BaaS enables the delivery of services within an ecosystem, get a glimpse of the different players in the BaaS value chain and how to drive ecosystems sustainably.
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In this podcast Discover how relationship-based pricing can be a strategic differentiator and how it serves as a tool to enable value-based engagement.
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The business of wealth management is facing significant challenges today. Customer behavior has undergone a sea-change with the advent of digital banking technologies, powered by fintechs and neobanks. Banks must now focus on adapting to these changing customer expectations and market conditions to fully capitalize on the prospects of this market.
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The SMB segment remains chronically underserved by the banking industry due to some intrinsic risks they present. But can banks continue to ignore the SMB segment as competition increases and pressure on revenues continues to grow?
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For decades, banks have provided their corporate and retail customers with several services. So why is there so much buzz around Banking-as-a-Service (“BaaS”) now?
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SunTec works very closely with systems integrators who provide value added services to our customers. Our systems integrators have certified resources who design custom solutions based on the SunTec Xelerate platform and help deploy and manage the same for our customers.
SunTec has a large ecosystem of ISV & cloud partners who add business and technology functionality to SunTec Xelerate. These partners bring tremendous complementary value to our customers who are using or are actively considering SunTec Xelerate for their billing and revenue solutions.
