Financial Services: New Banking Business Model

March 14, 2012 - 2 Comments

CIOs around the world are at the center of technology trends such as cloud, social media, consumerization of IT, and mobility. This is the second blog in a four-part series (Read Part I) exploring and sharing how CIOs around the world are responding to these trends and creating new ways to innovate, grow, and deliver superior customer experience.

Many of us are used to having a pretty formal relationship with our bank – after all, it’s about our money, isn’t it? It’s hard to get more serious than that.

However, times are changing. The Intuit 2020 Report: The Future of Financial Services identifies four areas of rapid transformation in today’s financial services industry:

  1. The playing field is changing: More regulation, more competition
  2. Shifting segments, changing markets: Increasing consumer demand for services
  3. Reputation and relationships rule: The best customer experience wins
  4. A new level of connection: Technology is playing a critical role in creating the customer service experience

Watch Allianz SE, CIO, Dirk Linnenbruegger on Executive ViewPoints:

Consumers increasingly expect a far wider range of services and accessibility from their banks, in keeping with the trends today toward mobility, flexibility, real-time information, and the cloud. At the same time, we also want to know that our money and our financial information remain secure.

Allianz SE is using Cisco borderless networks to support customer-driven interactions with secure flexibility, accessibility, and personalization. Financial services companies like Allianz are leading the way from traditional transactions to customized, value-add services – reshaping the financial industry by integrating analytics, large data set management, and social and mobile computing.

It’s not just a fad: Time to face the future of banking with a new business model.

Read more about continuous innovation for the financial services industry on the Cisco Financial Services blog.


Other blogs in this series:
Global Paint Manufacturer Shows the Colors of the Future
Collaboration Maestro…Bravo! Here We Come

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  1. How long is it going to be before banks and telecommunications companies become the same thing? I can see HSBC buying Vodafone to encourage online payments and transactions.