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Submission 2

The document outlines strategic recommendations for banks to lead in digital innovation and customer-centric financial services by focusing on AI-driven solutions, sustainability-linked products, and secure digital experiences. It emphasizes the importance of investing in AI/ML, digital payment solutions, and open banking APIs while managing risks related to cybersecurity and regulatory compliance. Additionally, it highlights opportunities for expanding financial inclusion and collaborating with FinTech firms to thrive in the next 3 to 5 years.

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Naeem Muzafar
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35 views8 pages

Submission 2

The document outlines strategic recommendations for banks to lead in digital innovation and customer-centric financial services by focusing on AI-driven solutions, sustainability-linked products, and secure digital experiences. It emphasizes the importance of investing in AI/ML, digital payment solutions, and open banking APIs while managing risks related to cybersecurity and regulatory compliance. Additionally, it highlights opportunities for expanding financial inclusion and collaborating with FinTech firms to thrive in the next 3 to 5 years.

Uploaded by

Naeem Muzafar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Recommendati

ons for FinTech


Strategy
DATE: 20/01/2025
How Should Your Bank Position
in the Industry?
- Goal: To ensure leadership in digital innovation and customer-centric financial
services.

- Strategies:
- Position itself to pioneer AI-driven financial solutions.

- Shift focus toward sustainability-linked financial products.

- Differentiate through seamless yet secure digital experiences (e.g., biometric


authentication).
Why This Positioning Matters
- Due to rising customer demand for digital-first
banking.
- Competitors like DBS and HSBC continue using FinTech
as their riding horse for market dominance.
- An opportunity to attract tech-driven Gen Z and
millennial customers.
What Should Your Bank Invest
In?
Artificial Intelligence & Machine Learning (AI/ML):
- Personalized financial advice tools.
- Fraud detection systems.
- Advanced credit scoring models.
Digital Payment Solutions:
- Mobile wallets with QR-based payments for urban and rural customers.
- Blockchain-based cross-border payment systems.
Open Banking APIs:
- Enabling partnerships with third-party developers for developing customer-centric applications .
Opportunities to Take Advantage
Of
Expanding Financial Inclusion:

- Exploit mobile platforms to cater to unbanked and underbanked segments.

Collaborate with FinTech Firms:

- Take advantage of creative solutions through partnerships and accelerator programs.

Sustainability-Linked Finance:

- Development of sustainability-oriented products supported by blockchain


technologies.
Managing Risks
Cybersecurity:
- Reinforce data encryption within all applications and deploy more advanced threat
detection systems.
Regulatory Compliance:
- Collaborate with RegTech firms to automate compliance processes.
Partner Program Risks:
- Perform due diligence beforehand before engaging with FinTech firms.
- Setting up transparent agreements protecting intellectual properties prior to startup.
Thrive in the Next 3 to 5 Years
Digital Leadership:
- Firmly construct focusing solutions mobile-first.
- Expand AI/ML applications across the entire breadth of business units.
Customer Engagement:
- Create loyalty programs embedded into digital functions.
- Utilize AI to receive predictive insights regarding customer behaviour.

Global Presence:
- Expand cross-border payment capabilities in high-growth
THANK YOU

PREPARED BY-
KANIKA DEO NARAYAN

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