This document summarizes the key challenges and opportunities for banking in the future. It discusses how the banking industry faces new competitors from technology companies, more tech-savvy and financially inclusive customers, and security and privacy concerns. It also outlines business challenges around regulations, adapting to customer needs, and operational and cultural transformations needed. The document proposes features for future banking, such as narrower focus, simpler structures, new products aligned with customer needs, and outsourcing non-core functions. It emphasizes the need for improved customer service, partnerships, acquisitions, customer profiling, and complaint handling to serve new banking customers.

1. Banking for Tomorrow’s Customers
Group No. 5
13th Batch GMCS Training
The Institute of Chartered Accountants of Nepal
Presented by:
-Prabina K.C.
-Nisha Aryal
-Rakshya Kharel
-Satyendra Sharma Satyam
-Sanish Shrestha

2. Today’s Scenario
 New and Untraditional Competitors
 Tech Savvy Customers
 High Level of Web and Mobile
Penetration
 Financial Inclusion
 Cyber Security
 Concern for Privacy
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3. Challenges faced in Banking
Business
 SoMoClo (Social Mobile and Cloud)
challenge
 Myriad of regulations
 Reluctance to change as per customer
needs
 Lack of security in ATM
 Relationship with customers is more
mechanized (missing the humane
feeling)
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4. Business-wide Challenges
 Data Transformation
 Technology Transformation
 Operational Transformation
 Controls and Compliance
Transformation
 Cultural Transformation
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5. Features of Banks for
Tomorrow
 Greater focus on profitability and more
targeted focus on revenue growth.
 Narrower scope and simpler structure
 Fewer customer segments
 New products aligned to emerging
customer needs
 Outsourcing few specialized works
 Outsourcing of back-office functions
with no competitive advantage
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6. Serving a new era of
Banking Customers
 Improved customer services
 Creating collaborative
partnerships
 Making strategic acquisitions
 Customer Profiling
 Grievance Handling
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7. What should Banks do for core competency
?
 Simplification in Banking
 Both core and non-core banking
 Deconstructed, customer-driven
products
 Transparency in operation
 System of prompt notification
 Developing sound banking culture
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8. Adopted advanced technology
 True omni channel
 Technology-enabled staff
 Increased automation
 Gamification
 Greater use of big data
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9. Valuing the Customers’
Account
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10. THANK YOU !
&
HAVE A GOOD DAY !
    
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