12th Mint Annual Conclave | Mumbai
Future of Banking: How to Navigate the Digital Road
March 18, 2019 | The St.Regis Mumbai
Sudhir Tiwari, MD, ThoughtWorks India spoke as part of a panel discussion on Charting the Digital Road for Banking.
Banking is experiencing a seismic shift. Technology is augmenting humanity and diffusing traditional constraints. Intelligent banking, the intention economy and hyper-personalisation are reimagining the nature of financial ecosystems.
In this era of digital transformation, smart banks like yours are putting tech at the core of their business, effectively disrupting their own selves and the financial sector at large.
Sudhir Tiwari, MD ThoughtWorks India talks about AI-Guided Digital Business at ThoughtWorks Live, India 2018
Gary O'Brian, Global Head of Advisory, ThoughtWorks, talks about Enabling Sustainable Transformation
A Berlin-based fintech startup is reimagining retail banking for today’s mobile lifestyle. Clocking a presence in 24 European markets, 2.3 million customers and more than €1 billion accounts, the bank was looking to launch its services in the UK.
While expanding to the new geography with not one but two banking schemes, the fintech was also transitioning to a microservices architecture.
VAKT, a consortium funded by nine leading energy companies and banks wants to transform the global commodities trading industry - make it digital. ThoughtWorks leveraged blockchain technology to build a digital platform, allowing all parties to manage the post-trade process in the same place for the very first time.
Standard Chartered Bank provides a wide-range of products and services for personal and business customers across 71 countries. The bank launched the eXellerator, an innovation lab in Singapore is dedicated to exploring emerging technologies for sustainable business solutions. The lab explores how the future of banking could look using immersive technologies.
- Stuart McConnell, Technical Director, eXellerator, Standard Chartered Singapore
Rang De is a non-profit offering low-cost credit to rural entrepreneurs that launched Swabhimaan, aimed at rural women is a financial literacy and microcredit initiative. Bioscopes or digitised kiosks provide access to financial literacy, online loan application, credit scoring and cashless disbursal of money.
ThoughtWorks leveraged IndiaStack and Digital Transformation to work on the loan application software for Swabhimaan. A crucial component of the solution was experience design, especially given the high level of tech immaturity in India's rural regions. ThoughtWorks rendered an intuitive experience that incorporated features like fingerprint scanning as data security measures.
The world’s 3rd largest private bank headquartered in Zurich wanted to elevate their private banking clients’ customer experience. They wanted to build a digital private bank that would provide personalized and timely information.
ThoughtWorks built a scalable digital relationship management platform of which the first phase was delivering a banking mobile app. The digital app ensures superior user experience design and speed to market of new features. ThoughtWorks also set up an innovation studio to develop future-ready customer-centric offerings.
A leading American consumer bank wanted to develop next-gen customer experiences for their globally distributed and ultra-high networth individuals.
ThoughtWorks used product thinking and agile principles to build a private banking platform centered around a financial data repository that manages complex data transactions, using emerging technologies. The digital transformation journey included modernizing a 15-year-old legacy platform.
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