Tushar Ghosh

Do you know how banks are getting smarter?  It is by turning Knowledge as a Competitive Edge : 
 The real game-changer is how they're using everything they know by decoding the customer brain through data by studying their patter 24/7/ 365 days.
 
 1. They are ditching the old for the new
Simplify and streamline operations: They are replacing legacy systems with modular, cloud-native architectures which was un-thinkable just a few years ago. Use continuous integration and delivery tools are used to reduce development time and improve agility. In action: Bank of America using Cloud Provider: Private cloud infrastructure. Saved approximately $2 billion  2. Investing big in data and AI
They are Building a solid foundation: Banks are building unified data views from their scattered data sources. To connect all the dots which was their biggest pain. Use AI and Gen AI to generate insights, automate decision-making, and to give a personalize customer experiences. Example: Several Autonomous Decision Intelligence Platform is developed by banks to turn fragmented data into strategic assets for fraud detection, risk assessment, and marketing. 3. Shifting focus from maintenance to innovation:
Redirecting funds: Tech budgets are being redirected from simple maintenance to things that where it is creating new value. Customer-first focus: The focus has shifted to improving the customer experience, personalizing everything, and getting to market faster. 4. Nurturing the right talent and culture
Build a tech-savvy board and leadership team. Gen AI training are provided to the leaders along with it’s application. There is a significant Increase in the proportion of in-house engineers and reduce overhead roles. Foster a technology-first mindset across the organization. Example: Another US Bank Capital One, with it’s 12,000-strong tech team transitioned to a cloud-first model and began selling its own software products. 5. Use AI to Enhance Relationship Management AI isn't just for behind-the-scenes—it's also a powerful tool for customer-facing teams.
Smarter advisors: Relationship managers are being armed with AI-generated client summaries, risk profiles, and insights. More meaningful conversations:  They are spending more time on strategic, high-value conversations because gen AI solution is providing them with the necessary inputs. The payoff: This is leading to a stronger, more profitable customer relationships and faster decision-making.