Banks / NBFCs / Wealth Management / Insurance : Rethink your businesses

Simple reasons for changing your business model now

Successful business models have been built over last hundreds of years based on:

– Face to face transactions

– Physical documentation

– Manual / semi-automated operations

– Partners in Physical world (like DSA)

– Decisions by humans

Business models need to be tweaked to align with newer changes:

– E-KYC through Aadhaar

– End to end digital transaction flows (online payments / e-commerce / loan application etc)

– Automated processes (to result in Zero TAT to support online txn)

– Parters in digital world (e-Commerce, Digital DSAs, payment processors etc)

– Decisions by machines (if else  logic and beyond)

As a Bank / NBFC / Insurance / Wealth Management firm, this will mean change in org structure, processes, resources, skills, customer connect etc.

This change is happening now – Onboard it to win now.

Digital Transformation – Nimble Simple Real… Frugal too…

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