Disruption in financial services has been happening for as long as I can remember. No industry has had to change the way it interacts with its customers as many times as financial institutions. However, this year brought new challenges, new expectations, and a new type of disruption, which may very well be laying the foundation for the financial services industry of the future. Cisco participated in Sibos this year and the theme of the show was “Driving the evolution of smart finance”. Yet one topic rose above the others and captured so many of our ears, inclusion.
Financial services are the backbone of communities – holding the future and the present of its citizens by ways of investment, lending, and deposits. The vast majority of these actions traditionally require face to face interaction. What does this mean for communities without physical offices or branches of any kind? The global pandemic has forced institutions to reexamine their office footprints, operate with a remote workforce, interact with remote customers, and offer products in new and accessible ways. A by-product of this transformation was the sudden ability to interact with communities that do not offer a physical financial services presence, bringing finance to those that have struggled to find it in the past.
Many sessions at Sibos took a deep dive into the way’s institutions have responded and recovered from this pandemic; however, Cisco took it one step further. We told stories, not just of how Cisco helped banks improve their bottom line, but also how Cisco investments transformed communities and brought inclusion and innovation to their citizens. Click here, to hear these stories be told directly from local Cisco representatives around the world. Cisco’s Connect-Secure-Automate brings new meaning to financial services, by connecting more customers to more institutions.
Don’t forget that while the first week of Sibos has come to a close, new content will be released every month on the Sibos site. Stay tuned for more featured Cisco content in coming months!