CREALOGIX Digital Banking Days 2018: A Recap

We are delighted to announce that The Digital Banking Days held on Thursday and Friday last week in Frankfurt were the most successful yet. With 250 attendees, current industry drivers such as Hybrid Consulting, Open Ecosystems and Artificial Intelligence fueled discussions. Interestingly, participants admitted that there was still a lack of in-depth knowledge around these drivers in order to fully implement them.

Our survey conducted to gain actionable insight in order to further improve this experience for the Financial Services industry highlighted that overall, participants were highly satisfied. Key feedback included that there was a lack of information on CREALOGIX products; however, we deliberately refrained from placing our portfolio in the foreground. Instead, the programme included an intensive industry exchange. Around 250 participants made their way to Frankfurt to discuss new approaches from all areas of the financial industry and to be inspired by practical examples. We used an interactive application to ask them their opinions on various aspects. Today, we present selected results to you.

Strategic pent-up demand

Visitors to our conference came from all Banking sectors, with Savings Banks, Cooperative Banks and Regional Banks accounting for around a quarter of the industry representatives. The topic of hybrid consulting, which was also discussed in a workshop on situational banking, met with particular interest. The idea behind this was that digital and physical contact channels as well as offers complement each other and that the approach should be geared to the customer’s current life situation. We asked the audience: “In connection with digitization, new offers and new providers are changing the market. Does your company have a clear strategy on how and with what it wants to position itself in the future? More than 60 percent answered “yes”. More than 90 percent of those who answered no to the question thought such a strategy was important to very important. In summary, there is definitely awareness of the problem.

Theme worlds instead of products

Using real estate financing as an example, Uwe Döring-Katerkamp, CEO of iaw-Köln, showed that it is worthwhile for banks to position themselves early in the customer life cycle as partners on the subject of “housing” and to address this much more broadly than with a building savings contract. Visitors to the event confirmed his thesis that the financing products themselves were confusing by stating that more than 60 percent of them said that their company did not have any clearly discernible competitive advantages in this area. Here, situational banking with its approach of solving current problems for the customer offers an opportunity to differentiate oneself.

Digital Ecosystems

Three-quarters of the participants agreed with the thesis that the platform economy is the most radical change for the banking business. A full 85 percent shared the analysis that banks lack components such as hardware, software, organization, culture and social networks to build a platform. The main obstacles to building a digital ecosystem were cited as corporate culture (39 percent), IT (24 percent) and a lack of innovation (18 percent). For a majority of 60 percent, the future of their own organization lies in a hybrid approach.

Future topic AI

The visitors largely agreed that AI (Artificial Intelligence) will play an important role in banking. More than 60 percent admitted that much was still unclear to them on the subject, while on the other hand a third were well versed. Overall, the survey results confirm that the different aspects of the digital transformation were assessed by the majority as relevant for banks. We are pleased that the exchange at the Digital Banking Days has contributed to deepening knowledge on hybrid forms of consulting, digital ecosystems and AI and stimulating the implementation of concrete projects.

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