The financial sector is experiencing an unprecedented moment in time. The dramatic change of habit in the behavior of banking customers, digital natives or not, has brought adoption of digital payment methods and new interaction channels.
Various regulations, PIX, Open Banking and hundreds of innovations are completely changing the rules of the game in this industry. Today, given the healthcare reality in the world, increasingly digitized customers demand greater speed, security, and new experiences in banking services.
As companies accelerate towards a digitized and automated future, digital transformation is no longer an option, it’s a necessity.
Faced with this reality, on October 6 we convened a group of experts in the financial sector, as well as several large, important Latin American banks such as Itaú, Bradesco, Santander, Bancolombia, Banco de Crédito del Perú, Grupo Financiero Ficohsa, Caixa Econômica Federal, Neon, and XP Investimentos, as well as Riachuelo and BTG Pactual (companies in the Retail sector) to share with Cisco experts the great challenges they are facing and the opportunities that the financial sector is seeing.
In our event Oportunidades Emergentes: El nuevo paradigma financiero, we analyzed the great opportunities that arise for Latin America, as well as real experiences in terms of the growth of digital bank use and access to financial services by a greater number of clients.
Some of the most representative messages were based on:
- Banking in Latin America: Its challenges and opportunities, mainly around cybersecurity and the digital experience.
- Successful business resilience: How it ensures employee safety, operational continuity, and excellence in customer service.
- Reinventing applications: How to connect application performance with the experience of the new digital consumer.
- Digital confidence: How to ensure a promising future for companies, employees, customers and the community.
With Mariano O’kon, Director of Sales of Architectures for Latin America at Cisco, we saw how a strong technological base allows us to transform challenges into opportunities. We also verified that remote work can maintain the business operation and even improve the productivity of some employees. Concepts such as Secure Remote Worker and Trusted Workplace were presented as great enablers for business continuity.
Likewise, by sharing data on how financial institutions are on the assertive path of focusing on user experience, we were able to better understand the importance of digital transformation in banking in order to achieve a unique user experience: my bank in my pocket.
Another valuable aspect of the event was the real experiences of our clients, who shared the challenges they had to provide digital banking services, how they adapted and digitally transformed to maintain the operational continuity of transactions, the remote operation of their employees, and all the transition and adoption of different options to improve the experience of its users.
As I mentioned before, emphasizing cybersecurity is relevant, because as mentioned by our security leaders in LATAM, Ghassan Dreibi and Juan Marino, it is very important to evaluate digital risk with a diagnosis and best industry practices to know how to guarantee a promising and secure future for the community, companies, employees and customers based on trends and the steps that banks must take immediately to ensure their digital services in an agile and secure way, while taking care of their brand and reputation.
Finally, our experts in Data Center and Cloud in Latin America helped us understand that to guarantee the experience of a digitally bank user, we must break silos and unify the language between the bank’s business area and the technical area to maintain the same KPIs of the business, the application and each of the components of the infrastructure in order to offer banking applications that allow greater agility in the service.
There is no doubt that technology is the fundamental pillar in the financial sector, but it alone won’t be able to act, it’ll have to be a technological, business, and intent-based network (IBN) architecture which will achieve greater assertiveness and agility, improve the user experience, and with its adoption, optimize technology to be more competitive, capture the market, motivate the employee with collaborative spaces, and, without a doubt, keep banking as the industry leader in innovation and services.
At Cisco, we reiterate our commitment to the financial sector to help you accelerate your digital strategy and support you along this path of great challenges and opportunities.
Here is the link to understand in detail each of these talks, and re-imagine the experiences for the digital consumer.