bankingciooutlook

Latest Efma Review Reveals how Banks and Insurers are Adapting to an Uncertain Landscape

Banking CIO Outlook | Friday, July 17, 2020

Institutions are now looking to a future that will be very different from the past due to the COVID-19 pandemic. From business models to workforces to payments, the events of the past few months have forced many to rethink the way business is done.

FREMONT, CA: Efma has released the new edition of its yearly review series that looks at how major retail banks and insurers are building their digital strategies of the future to adapt to the changing financial services landscape. Efma Review 2020 is filled with insights into the latest banking and insurance products, offerings and customer experience developments. It includes a vast collection of exclusive interviews, innovation and case studies overviews that show what is driving institutions to place innovation at the center of their operations.

Key executives from organizations such as DBS, Allianz, Santander, Emirates NBD, and more discuss how high levels of mobile and digital technology adoption and intense fintech activity are driving transformation efforts in both developed and developing markets. They show how changing customer habits are compelling them to transform their business models for a digital present and future. With the help of artificial intelligence and machine learning, companies are increasing their focus on personalized services. These cutting-edge technologies will continue to change the way financial services are used and delivered.

Institutions are now looking to a future that will be very different from the past due to the COVID-19 pandemic. From business models to workforces to payments, the events of the past few months have forced many to rethink the way business is done. This report highlights the best-positioned institutions to come out of the current situation in a stronger position. It also contains expert POV that can help inform the strategies of decision makers. The pandemic has boosted digital dependence. The choices made now will decide the success of everyone in the industry.

“We want to thank the Efma members from all over the globe who contributed their experience and insight to our Efma Review 2020. As people will see in the report, all players, large and small, recognize the importance of collaboration and innovation in order to keep pushing the industry forward. There is great uncertainty in the world right now. But one thing is certain: developments and transformations at these institutions will be crucial to the global economic recovery that will soon begin,” said John Berry, CEO of Efma.

See also: Top InsurTech Solution Companies

Weekly Brief

Read Also