Digital Transformation in Financial Institutions: The Keys to Success
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Digital Transformation in Financial Institutions: The Keys to Success

Award-winning financial services technology executives Matt Zufelt and Jeremy Green team up in the latest instalment of Digital Financial’s Future of Finance insights series to walk through the critical elements of planning and executing a successful digital transformation.

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Creation of “Mid and Back Office” Shared Services to Improve Efficiency and Compliance

Challenge A major international bank operating in multiple markets was faced with tightening margins, flat-lining economic activity, and unsatisfactory productivity ratios. Each of the bank’s operations was standalone, with branches carrying out the majority of their own mid- and back-office functions. Regulation differs and is evolving in each of the bank’s markets, making it increasingly complex to stay up-to-date and ensure compliance.

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Requirements, Design & Procurement Oversight for a Real-time Micropayments System

Challenge A South Asian government was seeking to bolster formal financial inclusion and digital service offerings for small players. To that end, the state bank, in collaboration with two international development institutions, planned to launch a high-volume micropayments gateway, in the understanding that any such platform would have to adhere to the strict guidelines of governance, interoperability, and inclusion required by the donor partners.

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Digital Subsidies using Biometric Identity

Challenge The Ministry of Agriculture and Rural Development in a West African nation needed to strengthen security, reduce corruption, and improve delivery of agricultural vouchers to subsistence farmers. However, most of the target segment lived off-grid with neither mobile data nor electricity and possessed limited identity documentation.

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Design & Implementation of Omni-channel Digital Sales for Global Top 50 Bank

Challenge A market-leading bank with multiple business lines—including deposits, secured and unsecured credit, payments, investments, and insurance—had siloed digital channels that created an uneven customer experience and a poor sales environment. The bank aimed to improve efficiency, increase sales, and hold onto its market share vs. both traditional rivals and emerging fintech challengers.

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Digital Omni-Channel Transformation for a Global Top 50 Bank

Challenge A major international bank, with operations in 22 countries, needed to significantly improve customer experience and increase efficiency in order to maintain good profitability in a challenging revenue environment.

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