DBS Xchange #2 - Technology innovation that are driving change in transaction banking скачать в хорошем качестве

DBS Xchange #2 - Technology innovation that are driving change in transaction banking

Welcome to DBS Xchange, a thought leadership video series from DBS senior leaders. In this video, we speak to Nimish, our head of Global Transaction Banking about technology innovation that are driving change in transaction banking. First of all, it is important to understand that, Innovation is not just about technology. Innovation in its essence is doing something different to get an exceptionally better result. Our approach of understanding the customer journeys, and thereby understanding the pain points, and then applying technology, is what really helps us bring in significant results and addressing these pain points. We embed ourselves into the journeys. We truly understand from the customer’s perspective what needs to be done and then we go and build those solutions from there. For example in the case of our trade loans, where we on board our customers’ customers, it used to be a process that took 60 days, now it takes 6 hours. 2020 has brought us situations which we really have to think outside of the box. Some of the things that we have done for example, customers can open a new account with DBS in a matter of 3 days without having to visit the branch. This is fundamental, because of restrictions and distancing, this helps significantly. I mentioned earlier on in terms of the end to end feasibility of payment, this helps customers as well to go completely digital, and therefore working from home become easier. On the trade side we have done quite a lot of work to be able to onboard customers, and customers’ customers 100% digitally, so that they don’t need to visit branches or even to visit their own customers’. These are some very good examples of where we put forward solutions for our customers so they can comfortably work from home, particularly SMEs but also for the large clients. Transaction banking has seen some disruptions in the last few years. I really believe that this is probably the right best of place in the banking industry now after what had happened in the consumer banking part for disruption. Technology is going to play a massive role in changing the way transaction banking has been done. The traditional way of doing trade with bundles of documents, lots of stamps, folders, papers, check chops and all that kind of stuff. These days are gone. The future is 100% digital, driven by APIs, driven by data, driven by A.I. and machine learning. And most importantly, driven by having the best customer journey. Follow What The FinTech 📺 Linkedin:   / wtf-fintech   Twitter:   / wtf_fintech​   Instagram:   / ​   Medhy Souidi:   / ​   #fintech​ #finance​ #bank​ #innovation​ #virtual​ #ecosystem​ #financialservices​ #technology​ #blockchain​ #wtf_fintech​ #whatthefintech​ #blockchain​ #crypto​ #digital​ #future​ #banking​ #hongkong​ #singapore​ #china​ #growth​ #cryptocurrency​ #payments​ #digitalassets​ #china​ #ai​ #artificalintelligence​ #regtech