Since digitization of services become increasingly important in serving customers especially during the Covid-19 pandemic.
Digital Transformation and Innovation became a necessity to lead, develop and safeguard organizations to create a sustainable echo system in order to serve and guarantee business survival in future.
There are many challenges facing the current businesses and particularly those less dependants on technologies and innovation.
Digital transformation became a must to allow the business to operate with its highest capacity efficiently at the minimal cost.
The disruption of digital technology had reformed customers behaviour and increased their demand towards digitization.
We observed the old generation struggling to adapt the digital rapid changes occurred last year by the government and private sector; however, it became an obligation to meet and satisfy clients need.
Young generation enjoyed the beauty of technology and assisted elder people to learn and build up new skills for the future within a short period of time.
For instance, our parents learned how to book appointments with governments, order groceries and purchase goods within few clicks using e-commerce apps and websites.
While, in banking sector digital transformation was heavily noticed through the recent deployments of smart branches, automated tellers, digital signage, customized promotions and high service availability through alternative channels such as mobile apps, online and phone banking.
Banks had realized that the only way to sustain is to build a new business module to ensure business survival in the upcoming years. For instance, banks started to seek more flexibility to run and operate their daily business by rolling out 100+ of self-service machines across branch network and shopping malls.
A business shift made a significant difference to the efficiency of banking processes, and has transformed customer experience after migrating 40% of their customers towards digital services rather than traditional branch visit.
“It is very important to put people in at the center of our business in order to succeed in the competitive banking industry,” said Khalil Al-Qattan, Head of Digital Transformation & Innovation. “Bank customers were keen on the flexibility of 24/7 self-banking.
Developing smart and innovative business model gave banks the opportunity to restructure their workforce and place skilled professionals in efficient and proactive roles, rather than having large numbers of tellers facing customers, instead serve them from a centralized hub.”
Video banking made it even easier for customers to reach out and consult relationship officers from anywhere anytime.
The experience of onboarding new customers via mobile app to open bank accounts in a few minutes without the hassle of visiting a branch.
Prioritising automation allowing customers to deposit their cheque immediately, instant money collection and seamless payments through mobile app and wearables made banking more exciting.
Leadership in most organizations perceived a significant change in overall performance after adapting automation.
For customers, waiting times and human errors are reduced, resulting in a streamlined, reliable and more secure banking services
At last, every organization is unique and has its own potential of growth, which helped resources think of tailor-made solutions specific to their customers.
“It is our chance to build and shape the future of our businesses through digital innovation and to contribute to our community and country as a whole” said Al Qattan.