Accelerating a Future-proof & Customer-centric Digital Banking Architecture

Cyrus Daruwala, IDC's MD of Financial Services Insights recently spoke at our IDC & Backbase Leadership Banking Insights Forum 2023 in the Philippines where industry experts and banking leaders deep dive into innovation, acceleration, differentiation, customer experience, aspirations, possibilities and more in digital banking — empowering you with actionable insights to navigate the complexities of this mobile-first and digital-first platform era.

In this keynote, Cyrus emphasized that there is a limitation towards pure build. He had stated that “You don't have the skill sets to understand the new technology or the cloud technology, so how are you going to build and enhance and augment that?”. More than US$100Billion had been spent on digital initiatives without significant ROE.

From this video, you will get to learn:

Grounded examples, benchmarks and steps to help you maneuver and grow in effectiveness in this new era of banking services
What is a DX Economy
How to maximize and show your true ROE through an Engagement Banking Platform within the Philippines landscape.

Presenter

Cyrus Daruwala
MD, Global Financial Services, IDC

Keen to learn more?

Reports

Accelerating customer-centric transformation by balancing build and buy

A collaborative approach toward sustainable digital banking
architecture.

In this APAC-focused IDC Infobrief commissioned by Backbase, it presents a disruptive finding that despite spending $100 billion annually on technology, it is not enough for banks in APAC to ensure competitiveness or customer centricity.

70% of the digital transformation projects have failed and out of the 30% which succeeded, 52% are underperforming and 20-25% are not generating ROI. Digital transformation hasn’t taken off for banks in APAC as they had envisioned. From IDC’s data, in-house build strategy has been the de facto, yet banking CIOs of today are questioning - why is build the prevailing option?

The IDC Infobrief serves as a consultative guide, supporting APAC banks in resolving their dilemma while selecting a robust platform strategy. The Infobrief is structured to empower banking leaders to conduct due diligence and formulate an engagement banking platform strategy that revolves around customer-centric transformation and differentiated customer engagement.

This IDC Infobrief report #AP241480IB June 2023 is commissioned by Backbase.

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