NOVEMBER - 2022191.What are some of the major challenges andtrends that have been impacting the Banking space lately?The banking industry is undergoing a radical shift, driven by increase in customer demands, changing business models, cyber-attacks, regulation and compliance requirements and disruptive technologies.One of the leading banking challenges is related to security breaches that increased significantly in the past years and banks must continue to invest in the latest technology security measures to keep customer and their financials safe.In the same time clients are becoming more and more demanding by requesting personalized and qualitative services, fast and reliable. Millennials have led the charge to digitization pushing banks to invest in Omnichannel banking, latest technologies and Mobile banking. Other generations prefer more human interaction and physical branch visits. Therefore, banks had to adapt to serve all generations leading to a hybrid banking model that include both digital experiences and traditional bank services. The success here comes from offering clients mobile AI assistant or digital services for basic needs focusing branch experts into offering the right consultancy and financial products. It is not enough just to have a mobile application to manage bank products or have a corporate website. The key is how we save clients time and efforts by offering fit for purpose information, online journeys for acquiring By Isabela IBRAIM, Director Digital Banking, OTP Bank RomaniaCXO INSIGHTSIsabela IBRAIMMORE CALCULATED, MORE RELAXED
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