SunTec

  What will the future banks be like? Frankly speaking, we doubt there will be a physical bank where financial transactions may be carried out. This doesn’t mean that banking won't exist in the future. Banking systems have existed in some form or another for as long as humans have transacted, and they are likely to survive in some form or another for as long as we do business. However, banking as we know it today, may not be around for much longer. In the future, deeper integration of financial services, often known as embedded banking, is expected to become the standard.   Today’s banking is nothing like what our grandparents or parents experienced. Consider this: when was the last time you visited a real bank office to conduct business? Do you still use cash or your debit card, or do you prefer to utilize mobile applications, digital wallets, and UPIs? The introduction of new technology has ushered in a new era of digitally-driven experiences, and banking is no different. Cu...

  During the pre-pandemic time, corporate banking was on the rise across the world. In 2019, North and South America were top performers, registering a 19.5% growth in corporate lending. The   sector thus saw extraordinary disruption and delays as the events of 2020 transpired. Corporate banking took a blow, but as the globe adjusts to the new normal brought on by the pandemic, the buzz in this sector is likely to rise again. Banking, on the other hand, may never be the same as the industry's digitalization has accelerated due to COVID-19. It has also increased its focus on client-centric business strategies in order to assure customer satisfaction and loyalty. The new rule of the game is hyper-personalization, and corporate banking isn't immune to implementing hyper-customized interaction models for improved business outcomes. This refers to more than simply marketing and outreach initiatives. In the future years, processes critical to the banking sector, such as handling neg...