Banks of 2020 and Beyond.

Despite these unexpected challenging circumstances that the world has been subjected to, the technological sector has seen unbelievable growth during this short period of time.  With these technological advancements that have dominated the new age, our dependence on digitalized features in the banking industry continues to escalate. Every sector and industry as of now is working on transforming their working environment into a fully digitalized one.

Banking customer’s demands for digitalized services continues to spike up, which acted as a pushing force for many banks worldwide to become more digitally empowered leading to a full transformation in how they perform various operations at hand. This global crisis that we are experiencing has made many customers aware of how convenient it is for all banking services to be conducted remotely and virtually. Having services that are easily accessible and practical is always deemed more desirable to consumers as we are becoming more technologically advanced meaning any service that follows the “go-to” method will always be favored.

Pio-Tech offers many solutions to help banks embark on the process of expanding to virtual branches, and virtual assistants, as Pio-Tech Chatbots. Pio-Tech developed Chatbot ABOT  which offers a 24/7 virtual support system and helps the C-level and the executives’ employees in the bank monitor their employee’s
performance and the transactions directed in real-time without needing to refer to the IT department or having to be present physically.

Banks of 2020 and Beyond

Pio-Tech Portable Sales Office (PSO) solution helps banks conduct all their sales operations remotely, which plays a huge role in gathering data as it is a very evolved software that uses advanced analytics that allows banks to recommend the right products to the right customers. Ensuing this global crisis, banks will be actively looking for a solution that predicts customer’s behavior to be able to recommend useful insights about certain products. It also allows for the early detection of any fraudulent transactions to ensure a higher level of security is present and to be able to give an early warning about the customers’ future relations to the bank (churn analysis).

In conclusion, the world will continue to witness growth and development technologically now and in the near future, which means that banks need to use the virtual transformation era to their advantage by applying solutions such as what Pio-Tech has to offer.

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