Cloud is unlocking potentials on the banking and financial sectors during the COVID19 crisis

Ever since the World Health Organisation (WHO) declared the 2019–20 coronavirus outbreak a pandemic on 11th of March 2020, we have seen dramatic turn of events in the world! Today we hear words like social distancing, telecommuting, remote access, remote work… etc. more than ever, in fact COVID-19 outbreak even required the leaders of the Group of 20 nations come together for a ‘virtual G20 Summit.

The economic impact is evident according to International Monetary Fund (IMF), as a reaction the banking sector started taking some measures to support customers by offering loan instalments deferrals for periods that vary between three and six months, with a waiver of interest for personal and auto loans, and other measures.

Banks, who started their platform digital transformation have their services available on their digital banking platforms like mobile and online banking, and are urging their customers to utilise these platforms to be able to benefit from their usual banking services, honestly what else can be more convenient? Now is the right time to take advantage of the technology we have between our hands, and if you are not there yet you can still do it, at Pio-Tech we have developed solutions that will help the banking sector overcome a great deal of challenges in these tough times, solutions available on the cloud and could be deployed remotely with ease and in no time, as an example let’s take a look at the Portable Service Office solution (PSO), a solution which enables the banks to deliver services at the customer location anywhere, anytime. PSO will enable individuals to:

  • Originate loan application.
  • Apply for credit card.
  • Open an account.
  • Access key data, content, case files, reports, and tasks to take actions directly from Smartphone or Tablet… and much more.

At Pio-Tech we also provide C level virtual assistant chatbots, which can help the leadership team of the bank to request reports, monitor the operations in real time at all times by chatting with our chatbot from their mobile devices, and a similar chatbot that is dedicated to the clients of the banks to answer all their questions and respond to their requests 24/7.

Another example, Pio-Tech has automated the process of reaching out to the right customer with the appropriate service/offer, the segmentation engine developed by Pio-Tech experts in the banking sector and technology will classify the customers according to certain characteristics based on criteria identified by the bank and then generate campaigns that would fit the need of the designated customer. And there are more added-value solutions to discuss.

At Pio-Tech we aim to help the banking industry provide remote and secure solutions especially during this difficult time of COVID-19, but also help them leverage the experience and technology that Pio-Tech can provide. it is all about knowledge sharing and giving the right advice to overcome the challenges that recently came to surface.

Our mindset nowadays is focused on how much we can help our communities around the world as technology companies to provide the means and remove any obstacles in order to be safe and eventually be a true enabler of “#stay_home” message…

If you need any support or require any additional information about how can you help you can always reach out to us.

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Author: Omar Al- Shishani

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