Digital Transformation in Banks

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05/02/23 Nityo Infotech Services 1

Shift in Competitive Landscape in Digital Age

Digital Banking Economics – Channel Costs

$ 0.50

$ 0.05

$ 4.10

Competitor Challenges Are Forcing Banks Shift To Digital

Channel Overload Budget Challenges Grow Revenue Cut Expenses

Mobile Online Branch ATM Call Center…

Flat budgets Dollars allocated to

compliance, risk Do more with less

Toughenvironment Competition

from non- traditional

Regulatory pressures

Can’t cut your way to profitability

Efficiency ratios continue to grow

Need to work smarter

Global Customer Behaviours Are Changing Extensively…

New Digital competitors are contesting in specific business areas, which were typical strongholds of Banks

Digital Banking At Some Leading Banks…

• The Banking industry has evolved to incorporate Digital technology into its business products, services, processes, and operations.

• A few major banks, have led the way with innovative Digital banking options for their customers…

What Are The Digital Banking Leaders Offering…1

Mobile Banking Description of Services CitibankBank of America

Wells Fargo

Capital One

Chase

Deposit checks from anywhere √ √ √ √ √View recent activity for your credit card accounts, including pending transactions √ √ √ √

Pay credit card bills and view payments √ √ √ √Schedule and cancel future credit card payments √ √ √ √View your available credit line √ √ √ √Find ATMs & branches nearby √ √ √ √ √Contact Customer Service 24/7 √ √ √ √ √Check the balances in your linked accounts—checking, savings, credit card, home equity or personal lines and loans, and mortgages √ √ √ √ √

Pay virtually any person or business in the U.S and track payments √ √ √ √See recent activity √ √ √ √ √Transfer money between accounts √ √ √ √ √Transfer money to friends with accounts at other banks √ √ √Learn the minimum credit card payment due (and due date) √ √ √ √Track rewards Points √ √ √ √Schedule appointments with banking specialists √Report lost or stolen cards √Receive Cash Back deals on purchases √Ability to make purchases with ApplePay √ √ √View Credit Score Online √Receive alerts of factors affecting credit score √

What Are The Digital Banking Leaders Offering…2

Mobile Text Banking Description of Services CitibankBank of America

Wells Fargo

Capital One

Chase

View account balances √ √ √ √ √

Credit card payment details √ √

Recent transactions √ √ √ √ √

Additional transactions (up to 15) √ √ √ √

Nicknames for bank and credit card accounts √ √

Support—online or by phone √ √ √ √

View Reward Balances √

Find Branch and ATM Locations √

View Rewards Balances √

Overdraft Protection has been utilized √

Account balance is below/above targeted amount √ √

NSF fee has been charged to the account √ √

A Direct Deposit has been posted to the account √

Transfer money between accounts √

Changes to your personal information √

What are the Digital banking Leaders offering…3

Tablet Banking Description of Services CitibankBank of America

Wells Fargo

Capital One

Chase

Manage your accounts in a whole new way that's optimized for your iPad® or Android tablet √ √ √ √ √

Finances truly come to life with rich displays, charts, data and more. √

View account balances, check recent activity, make bill payments, transfer funds or simply read up on personal finance and money management.

√ √ √ √ √

Access to linked accounts and credit card accounts—check balances, view recent activity, pay bills and more √ √ √ √ √

A streamlined flow to quickly set up payments and transfers from checking/savings, including payments to your credit card account √ √ √

Interactive, graphic displays to help you visualize your current spending and plan for your future √

Easy tools and useful information to help you manage your personal finances √

What are the Digital banking Leaders offering…4

Online Banking Description of Services CitibankBank of America

Wells Fargo

Capital One

Chase

Live Online Chat Services √ √ √Online Customer Survey √ √ √ √ √Online Business Credit Card Application √ √ √ √Online Consumer Credit Card Application √ √ √ √ √Open checking and savings account online √ √ √ √ √Apply for Personal Line of Credit Online √ √ √Apply for Home Mortgage or HELOC online √ √ √ √ √Person-to-person ability to send and receive money to individuals with accounts at other banks √ √ √ √

Small Business ability to make payments to vendors, employees, or anyone else, and also send invoices to customers for payment √ √

Transfer money between checking, savings, credit card, home equity line of credit, installment loan, mortgage, or investment accounts. √ √ √

Transfer money to my accounts at other banks √ √ √ √From a single site, you can set up budgets, get organized for tax season and track spending in all your accounts, even at other financial institutions. Sign into your all accounts dashboard for easy accounts access and comparison so you never have to hop from site to site again.

√ √

Year-end credit card spending report summary √ √Financial Management Software √ √Enroll in Business Online Banking online √ √Free Credit Score √

Digital Transformation Is A Multi-Faceted Process… …Banks Need To Embrace And Accelerate

Leadership Transformation

Omni-Experience Transformation

Information Transformation

Operating Model Transformation

WorkSource Transformation

Digital Transformation Within Banking Is Happening At Slow But Steady Pace…

Traditional Banking Delivery Model – for Products, Services, Marketing Channels

Underlying Digital Technology

Convergence Of Digital Products, Services, Marketing Channels And Delivery

Digital Banking Delivery

Cards

ATMs

Internet

Payments

Mobile

BiometricsBranch

Call Center

Marketing

As Digital technology continues to evolve, and as increasing numbers of consumers embrace the digital delivery of products and services as the norm, we will continue to see the convergence of the various banking customer touchpoints.

Customers expect seamless integration of the Digital experience from initiation to fulfillment.

As such, banks will need to re-think their traditional stove-piped and duplicative Digital delivery strategies.

Digital Banking Model For Delivery Of Products, Services, Marketing, Channels

Underlying Digital Technology

Disrupt: Apply Lean Start-Up Principles

Move From Channel Islands To Omni-Channel

“Banks will move from Channel Islands to Omni-Channel Banking. This is not about just technology, it's about the path to great customer experience

(CX) across all channels, using the right customer touch-point at the right time.”

Digital Transformation Economics Impact - Digital Correlates With Profit Margin

Start Jour Digital Journey Now

Nityo’s Digital Enterprise Service Offerings - Consulting

• Develop a Business case for your business:o Assess as-is state of your digital readiness, identify to-be state and create a

business assessing budgeting and costing details.

• Create Digital Enterprise Transformation Strategy and Roadmapo Assess as-is state of your digital readiness, identify to-be roadmap, Create

DET strategy, plan and roadmap, identify phases and timelines for implementation

• Program manage end-to-end digital transformation initiativeo Create business case, road map, identify the right technology platforms,

solutions, integration requirements, identify vendors, and oversee implementation of end-to-end DET program, create new business processes

Nityo’s Digital Enterprise Service Offerings - Technology Solutions Implementation

• Develop DET Architecture plan and Implement ito Create unified master Architectural framework, covering technologies

namely Networks, Mobility, Analytics, Cloud, Security, Social. Implement the identified technology solutions stack and roll it out across the organization and functions in a phased manner.

o Implement SMAC (Social, Mobility, Analytics, Cloud) frameworks/solutions/Integration process or implement Big Data or Artificial Intelligence solutions as may be specifically required for your business.

Nityo’s End-to-end Digital Enterprise Service Offerings - Services

• Create Digital marketing infrastructure, integrate with your back-end systems, and payment methods, and perform Digital Marketing services and activities for your business.

• Implement, maintain and support your SMAC infrastructure and applications with our onsite, near-shore and offshore resourcing and service delivery models

Enhance Capabilities Together

Nityo Infotech Services