Over the last few years, due to the digitalization of the world, the behavior and needs of customers are changing substantially, which in practice has meant that many organizations have set up digitalization strategies. However, only a few retail banks have been successful in fully digitalizing their core customer proposals or their end-to-end processes. Clients require new services, more transparency, and new channels of communication with customers to respond to today’s on-demand expectations.
Implementing a digital banking model involves more than just selecting a technology. The leading players in the field of transformation are improving customer experience and launching more efficient products and services to the market that are quick and easy to use.
Anyway, the banking sector is not a pioneer in implementing innovative changes, but it is an indispensable step because clients are expecting a new experience with their institutions.
But what about the SME banking segment? The SME banking segment has always been characterized as being one of the most profitable client profiles for institutions. Banking clients require more tailor-made offers, advice, and quick solutions. They want the bank to become a business partner. If to this we add the digitalization transformation of the client, it is obvious that the financial sector must evolve to adapt to a new period based on new demands.