With so many changes going on, now banks have to adjust their business model to fulfill the client’s requirements, face competition (money transfer services, crowdfunding, virtual currencies, etc.) and give a value added. Not so simple, right? The operational excellence banks are looking relies upon several factors…

• Be agile: clients are demanding more accurate and in real-time response to their needs. It doesn’t matter if there is online or mobile banking, if for a clearance, the back office area takes a lot of time to answer or, it’s too slow to open an account due to screening.

• Facilitate: Has it happened to you that you go on holiday to another country and suddenly the bank blocks your credit card due to suspicious activity? If the bank wants to be one step forward, it needs to clearly understand the client’s profile and facilitate the use of its products.

• Data protection: we are in an era where the signature is no longer required. Now our fingerprints, voice, and pupil scan are needed to identify ourselves and process transactions. With so many cyber-security cases a bank must have key controls for minimizing data leaks, attacks, etc. The client’s expectation is that the bank protects not only their money but privacy as well; especially if the bank wants their trust.

Who are you going to trust your money? As you can see it’s all about given a different experience to the client. One part can be done by artificial intelligence, automation; but the other (and sometimes most important) is about staff. How the do it; improving their talent.