Banking

Building the Bankable Future

The global banking landscape has experienced tectonic shifts in the aftermath of the financial meltdown. Regulatory norms have tightened across global markets, increasing the compliance burden of banks. Customer experience is fast becoming the real differentiator in banking. It is no longer enough to offer simple and automated banking services. To build loyalty and drive profitability, banks will need to offer a non-stop interactive banking environment. To achieve this, banks need to increase their business agility by anticipating customer needs and offer an engaging user experience.

To cater to this fast paced environment, Wipro works with banks across the globe to usher in transformational changes through modernization of their products, services and processes. We enable our customers across the Banking and Financial Services industry build the bankable future with our expertise, experience and solutions.

Challenges In Banking Industry

The banking industry is very lucrative but also competitive as can be observed by the number of increasing banks and competitive pricing. The banking institutions face a number of challenges which include:

  1. Customer Relationship: It is the core of any service sector. Banking institutions keep their focus on not only acquiring new customers but also retaining current customers as well. Enhancing customer experience is the key. The banking service should be flexible and personalized.
  2. Tech-Savvy: The traditional brick and mortar way of banking is losing value. These days, people prefer to “bank on the go”. It is very important for banking institutions to adopt new technologies which are secure for transactions and devise new ways so that customer can access banking anywhere, anytime and anyplace.
  3. Legacy Systems: Banking institutions rely on traditional legacy systems which have worked well till now. However with new product and services being launched, it is becoming harder for banks to continue using legacy systems. There is requirement to update the legacy system with the new in such a manner that it is accepted by employees readily and also is flexible to support the changing needs of customer.

Mcentric Solutions provide IT solutions for banking and financial services industry. Our solutions help you develop and enhance customer relationships through smooth flow of information. Our products are innovative, secure and allow customers to access banking services smoothly.