Quantzig analyzes the factors accelerating urgency for digital transformation in the banking services industry
Quantzig, a leader in delivering scalable analytics solutions and data science services, today announced the completion of its recent article that sheds light on how digital analytics can help banks grow, scale, and drive profits in the new normal.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200713005279/en/
To stay profitable and grow in the new digital economy, businesses must adopt a digital business model that can help diversify the online delivery of digital banking services. (Graphic: Business Wire)
Given the changes in business processes globally, it is evident that the future of banking requires a new perspective on ways to deliver banking services more efficiently to consumers who have grown accustomed to digitally engaging with non-financial institutions and e-commerce platforms.
- Insights on the important steps to digitize banking services with the help of analytics
- Impact of COVID-19 on banking services and the need to capitalize on data
As financial service providers realize the importance of digitizing their services, there is also a growing need to prioritize investments in digital analytics. Request a FREE proposal to learn how we can help digitize your services.
Though the need to completely digitize banking services was talked about for a long time, COVID-19 has accelerated this transition, playing a crucial role in reducing costs and improving the digital experiences of the end-users. Also, with changes in operating models becoming more prominent across sectors, financial institutions of all sizes must reassess their existing business models, growth opportunities, organizational structure, and product assortments for a marketplace with more demanding consumers, agile competition, and shareholders who are looking to drive greater efficiencies.
According to our digital analytics experts, the strategic use of digital data sets can not only drive quantifiable improvements in customer relationships, but also impact risk management, product redesign, business forecasting, and competitor tracking. As such, to stay profitable and grow in the new digital economy, businesses must adopt a digital business model that can help diversify the online delivery of digital banking services.
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To lower acquisition costs and improve efficiency in the new-normal, banking services providers must focus on delivering fully digital, platform-based banking services that can be delivered seamlessly through digital channels," says a data evangelist at Quantzig.
Speak to our experts to learn more about our offerings for businesses offering digital banking services.
Case in point: How Quantzig Helped Integrate Web Data into the Digital Transformation Initiatives of a Leading Banking Services Provider
A major digital banking services provider based out of NA was undergoing an end-to-end digital transformation for a potential M&A transaction. One of the underlying requirements was to analyze a suspicion of low profitability by examining data anomalies and identifying fraudulent transactions on their digital platforms. This required a detailed analysis of various data sources, including the website and social media. Quantzig’s digital analytics solutions helped them address their challenges resulting in an exponential increase in digital transaction volume from 37% in 2019 to 89% in 2020.
Based on our past experiences of executing analytics projects for companies providing digital banking services, we understand the challenges commonly faced by players in this sector. Hence, we have put together a comprehensive portfolio of digital analytics solutions to help key decision-makers in the BFSI industry tackle the crisis with data-backed decision-making. Book a FREE Demo to gain limited-period complimentary access to our proprietary digital analytics platforms.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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