For banks, cloud computing appears to be the perfect answer to the growth of big data—and the necessity to manage and exploit it. This shared pool of information offers increased efficiency at lower cost, but adoption can be challenging for banks, with regulators expressing concerns especially regarding customer data protection. Fortunately, success is within reach through effective collaboration between banks, regulators and cloud providers.
Imagine you’re one of the nearly 40 million Tanzanians who live in a rural community. It would most likely take a day of your time and a considerable portion of your earnings just to travel to the nearest brick-and-mortar financial institution.
The banking sector is uniquely placed to offer a high level of customer service that could put it in the same category as retail, a largely acknowledged leader in customer service.
In an increasingly digital-dominated environment, customers are naturally looking for a seamless online experience, regardless of whether this experience relates to shopping, entertainment, education or banking. While bankers and other financial-services providers are clearly conscious of the importance of quality customer service, it seems they have a lot to do to improve it, according to experts.