Payment Innovation and how banks can win…

We need Digital Simplicity !

 Consumer expectations are increasingly influenced by the advances of digital pioneers in the retail sector, such as Amazon, Netflix, and Uber. The emergence of innovators like Apple Pay and Google Wallet is also changing the competitive landscape for banks. New products and payment methods are challenging the relevance of traditional banks’ offerings and threatening their customer relationships. Unless they act, banks face an increasing risk of commoditization: customers will begin to regard banks as public utility companies, a trend that will put downward pressure on margins and undermine pricing power.

One way for a bank to avoid that fate—to differentiate its offerings and value—is to provide a superior customer journey. But doing so is also a challenge. Increasingly, customer transactions are not only multichannel but also multistep. Users are often distracted, their attention fragmented. Often, they use product applications and complete other banking tasks over several sessions, perhaps using more than one device. Mobile-device screens are small, and bank advisors aren’t present to guide the way. Any provider able to surmount these impediments and give the customer a smooth, painless, digitally simple experience will be ahead of the pack in winning the customer’s loyalty.

At GlobalPaymentSummit various track-session will discuss topics like development in digital technologies and data analytics as they represent a significant opportunity for banks not only to better meet the needs of their customers but also to lower their costs and increase their efficiency.

The best banks are now fully seizing these opportunities and capitalizing on them. Those that fail to act will be left behind.

Enhanced digital capabilities drive substantial and measurable improvements in banks’ financial and operational performance. These benefits can include boosting revenues per customer by 50%, increasing customer penetration by 30%, and reducing operating costs by as much as 20%. A very interesting report by BCG ( https://www.bcgperspectives.com/content/articles/financial-institutions-technology-digital-customers-steer-digital-trends-driving-retail-bank-transformation/) does give more detailed insight from an analyst perspective. At GPS we will focus on live cases for success and discuss directions amongst international peers. Have a look at our program (living document) as it develops towards 12-13 October 2016!

 

 

  • GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @BankservAfrica: Your week in payments: #EFInA and partners focus on deepening #financial inclusion in #Nigeria; #McKinsey releases a re… 7 days ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @richardturrin: A bold move by China. The first major digital currency. What do you think? @thepsironi @psb_dc @UrsBolt @BrettKing @k 7 days ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Don`t miss out the African Women in FinTech & Payments (AWFP) perspective on #digitalpayments, #diversity and… https://t.co/gabwLCt54U 2 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @cenfri_org: What does the future of #payments look like? Read some thoughts from @BankservAfrica below 👇and explore our work with @FSDA 2 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechNewsAF: Nigeria’s largest mobile operator is about to become a bank https://t.co/qcq486dICV #Banking #fintech #mobileoperator 2 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @Nomanini: Really interesting interview about #FinancialInclusion in #Mozambique with Esselina Macome from @FSDmoc_ https://t.co/A3hGsYO 2 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @ThePaypers: Florin Asia Innovation Awards 2019 🏆 - Don`t miss the opportunity to showcase your key innovative power for the Asia region… 2 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechNewsAF: Singaporean FOMO Pay partners with Kenya's WAPI Pay to provide payment solutions between Asia & Africa https://t.co/Itrx 4 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @EP_Africa: Did you know Ghana has recently become the fastest-growing mobile money market in Africa? The phenomenon opens enormous e-co… 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @MeFintech: Artificial Intelligence to boost Middle East’s GDP by 11% by 2030: PwC https://t.co/qm3hStm5yd #AI #ArtificialIntelligence #… 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechNewsAF: Kenya’s rising #fintech: Africa’s pride https://t.co/8Bl0obRtW6 #economy #ecosystem #financialservices 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechNewsAF: Africa’s own #cryptocurrency, SAFCOIN Africa, launches https://t.co/W6qujz7oyC #crypto #fintech 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechNewsAF: $75m World Bank fund launched to support Tunisian #startups https://t.co/oKaMdbI8sI #banking #funding #financialservices 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechNewsAF: Opera founded #startup OPay raises $50M for mobile #finance in Nigeria https://t.co/usdv0GIe7k #fintech #mobilepayment 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit .@cenfri_org, our supporting partner for Africa Global Payments Summit, has joined us in our journey through key tr… https://t.co/UOymZR56zg 5 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @PaymentsNet: Indonesia's ride-hailing @gojekindonesia is set to announce partnership with Thailand’s lender @scb_thailand, putting pres… 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit Don`t miss the chance to showcase your #payment solution at our #Asia GPS and stand a chance to win the Florin… https://t.co/vA4Z0UxLmc 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @SADCBanking: Regional Payment Systems can Boost Scale in sub-Saharan Africa - https://t.co/XfUMZDM7Vc 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit RT @FintechNewsAF: Africa in the forefront as #fintech becomes the ‘new normal’ https://t.co/Yq3d4PCONh #financialservices #digitaltransfor 6 weeks ago
    GlobalPaymentSummit GlobalPaymentSummit @GlobalPaySummit We are pleased to announce our ongoing collaborative partnership with @PAN_Namibia, the #Payments Association of Na… https://t.co/ftY0QGYpnO 7 weeks ago
  • Also interesting
    CALL FOR ENTRIES – FLORIN ASIA INNOVATION AWARDS 2019
    Written on 29 July '19 by
    READ MORE
    Announcing the ASIA - Global Payment Summit
    Written on 10 April '19 by
    READ MORE
    Global Payment Challenges
    Written on 10 September '18 by
    READ MORE
  • Speakers 2018