Strategic CIO

Digital Banking Services: Tips to Empower Innovation

The banking industry has experienced the need to facilitate digital changes to upscale their productivity. For instance, the incorporation of AIOps and full-stack observability has helped banks enhance their customer relationships. Furthermore, various global banks have begun to install multi-cloud banking platforms to prioritize customer experience across different networks. Banking corporations are looking for methods to optimize both front and backend applications. Alix Pressley gets into a conversation with Suresh Vishwanathan, COO of TSB Bank, where they talk about the future of digital banking services.

COO’s Role in Digital Banking Services

Vishwanathan shares that one of his primary responsibilities is to deliver stability across different banking platforms. As a COO, he must manage changes and regulate business operations to optimize the customer experience.

How to Implement Innovation Strategically

The banking industry divides customer service optimization into two aspects. The first aspect focuses on transactional operations, payment requests, and balancing checks. The second component prioritizes the accomplishment of customers’ personal goals. When a banking corporation bifurcates its sales division in this way, it is better prepared to accommodate customer needs.

Accommodating Consumer Needs

Vishwanathan mentions that consumers do not care if they are connected to the banking network through Wi-Fi or 4G. Their primary focus is on TSB app performance. He adds, “what we’ve tried to use is the Dynatrace SDK to track from the point that a customer does something on the handset all the way back to the handset. And we use the Dynatrace SDK to help calibrate performance or defect.”

Tips to Improve the End-User Experience

Companies should focus on prioritizing the overall end-user experience. It is crucial to attend to every customer issue promptly and incorporate digital banking services to improve performance.

Main Focus of Digital Transformation in Banking

Most banks are operating at a similar level. Therefore, the banking industry needs to prioritize customer experience across different banks. Implement a data-oriented approach and constantly work to enhance customer needs and requirements.

The Future of the Digital Banking Services

Vishwanathan suggests that every bank should improve its digital banking services. Furthermore, banks should go beyond conventional methods to simplify consumer transactions and banking operations.

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