CAPGEMINI
Data is the second biggest advantage , according to Wilson . Banks benefit from a significant amount of data and information about consumers , whether that be a retail banking customer , a commercial customer , or a corporate customer . Those two aspects give the banks a tremendous advantage . However , he says , they do need to be more responsive in a customer context .
“ I think banks need to be more agile in terms of how they take advantage of that data , how they take advantage of that trust and potentially take advantage of this broader ecosystem . The legacy challenges with banks are technology constraints , but I think one of the larger constraints is the speed of decision making and their ability to respond quickly .”
Wilson says that although some banks come from robust governance and a control perspective , in some respects , it inhibits and limits their ability to respond and change at pace . However , he believes there is an opportunity for the banks to take advantage of the trust and their data-rich position . Banks also need to become more agile in terms of how they change to address the market opportunities .
Thirdly , Wilson believes they can participate more actively in that ecosystem to take advantage of some of the cloud-native technology that has developed over the last decade . “ We ' ve seen a significant increase of the hyperscalers , the cloud platforms , whether it be Amazon Web Services or Google Cloud Platform or Microsoft Azure ,” he says . “ It ' s certainly a multifaceted challenge . And I think that ' s probably why the transformation of the industry is both such a complex issue , but also such an exciting opportunity .”
Customer centricity and services Customer centricity has become central to all finserve operations that are successful .
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