Frontline banks are fluid, responding to and better yet anticipating customers’ evolving requirements and preferences. The pandemic has accelerated the need for banks and consumers to interact with each other through digital channels. To compete in an increasingly competitive market, traditional banks must provide tailored solutions, cooperating with specialized partners to achieve specific goals. Banking-as-a-platform has become the new norm in the industry and the only way to keep up.
“Plan for radical change, or prepare for obsolescence” was the recent message from former Apple CEO John Sculley in reference to the banking sector’s latest digital innovation: the chatbot. As part of the ongoing fintech revolution, mobile-messaging applications are now being adopted around the world at an astronomical rate.