With offices in 158 countries and more than 250,000 employees, PwC are among the leading professional services networks in the world. They help organizations and individuals create the value they’re looking for, by delivering quality in assurance, tax and advisory services. PwC FS Advisory practice provides integrated Management Consulting and Technology Advisory services to banking clients in the CEE region. Their expert team supports their clients in transforming their business models and building new products and services while also keeping costs down and managing risk & regulatory compliance. ‘
Martin Vurm, Director of Financial Services department at PwC Czech Republic, our speaker at #IOB2019 in Prague as an expert in this field shared his opinion about Qua vadis Banking and Customer Experience Management.
You are regularly participating in the Innovation on Banking Conference. This is 4th Annual Conference held in Prague. What is your current experience so far?
We highly appreciate our presence every year here. It brings us an opportunity to discuss the latest trends we help to create as we aspire for the market leader in digital banking. The occasion provides all participants to share their insights into the future trends from their perspectives of technology pioneers, customer experience designers, banking professionals etc. We are always pleased to meet colleagues from banking and discuss their challenges and hear success stories based on our solutions.
What will you offer to the audience this year? Your presentation is about Quo vadis banking. Could you elaborate more on this?
The digitalization of the financial services, eroding frontier between financial and non-financial services and changing value map of the society brings an interesting mix of threats and opportunities for the current players. The so far given fact of a direct bank to customer interface (personal or digital) is fading and banks position and margins could be endangered. Banks could be the ones shaping the future of the industry or become only a particle in a chain managed by others. The frontier between success and failure is very thin. Smartly invested funds, rational partnerships and agility in development of attractive front end services will decide about the results.
What is the right mix of banking and non-banking service for financial institutions? What would you advise them?
Financial institutions‘ business will be based on banking services. But these services cease to be self-standing products. They become integrated into everyday activities in payments, loyalty programs, shopping… Banks don’t need to provide all services connected but should be able to leverage their market power in managing the value chain in order to attract the client’s
attention generating additional revenue streams and strengthen the loyalty of their customers.
Would you please share with us your expertise in Customer Experience Management? Which are the right metrics here?
As mentioned the key struggle has been fought for a client’s attention. Delivering the best customer experience along his everyday life journey is the winning formula. But one size fits all does not work. Ability to tailor-made customer experience, personalized customer journey leveraging the knowledge of the client is the key. To be able to design such services we combine our banking experts, customer experience designers and artificial intelligence data minds to deliver such solutions
Innovations on Banking 4.0 is inviting the prospective Financial Companies, Banks, FinTech/Startups, Consultancy, Solution Providers and Vendor Companies who bring value and rise the level of technological Innovations in Industry. Join us at this High-Exclusive gathering this September in Prague, Reserve your spot on time!