FINANCIAL
Financial institutions are always looking for ways to enhance their customers' overall experiences, throughout the customer life cycle: from attraction to acquisition to retention.
But global changes, like economic uncertainty and covid-19, put a lot of pressure on CIOs to go through digital transformation which enhances services while reducing costs.
Banks utilize many tactics through the digital transformation journey like:
- Intelligent chatbots for customer support
- Cloud computing for more efficient IT spending
- Internet of things (IoT) for providing real time analytics.
Done right, Financial institutions can gain significant benefits from digital transformation, including: ensuring compliance, fraud protection, and overall reduced operational expenses.
PUBLIC
In a recent talk, Microsoft's CEO Satya Nadella noted: "We’ve seen two years’ worth of digital transformation in two months."
While governments around the world are facing many global challenges like pandemics and increasing costs of raw materials, governments are also under continuous pressure from citizens always expecting better, cheaper, and easier to access public services.
The only path for governments to take is to go for digital transformation to make the best out of technology.
According to a report by McKinsey&Company, "By digitizing processes and making organizational changes, governments can enhance services, save money, and improve citizens’ quality of life."
