Digital Revolution in Banking

Traditional forms of contact with the bank are lost to mobile phones. Customers want to use smartphones to check their account balances, make transfers and buy products. Experts estimate that mobile payments, which are now popular among individual customers, will soon enter the company as well. For this, they are increasingly using advanced algorithms and big data technology. The key problem is to ensure the safety of customers, their personal data and resources.
– Technology enters the financial and banking sector quickly. The methods of communication with the customer and channels of service provision are changing,”, Vice-President of the Management Board, convinces in an interview with the Biznes news agency. – Mobility is an element that is visible on a daily basis. Most of the services are already provided via smartphones and mobile devices. More and more people perform operations and communicate with the bank in such a way.
According to the Office of Electronic Communications, at the end of last year there were 56.6 million active SIM cards (both pre- and post-paid and M2M) on the market, which was one of the highest saturation rates of this type of services in Europe (147%). This is also the reason why, the banks’ offer is now moving towards providing services through all possible channels (the so-called omnichannel).
– This is a very strongly developing trend,” estimates. – However, everything is moving in the direction of mobility. I think that soon all or almost all payments will be made by mobile means. It will also slowly enter into financial traffic between institutions, as such payments are currently used mainly by individual customers.
The development of the API (Application Programming Interface), i.e. making services available through customer applications, has a significant impact on this segment of banking. It is a direct link to payments placed on the website of a shop, service provider, etc. It is a direct link to payments. According to, along with further development of e-commerce and m-commerce API will gain in popularity.
– This technology changes the market in an excellent way, because it allows to implement new payment formulas tailored to different types of online stores, types of customer behavior and needs. This is a great benefit for the customer, who has the ability to immediately arrange a bank transaction in a given store, if required – says.
Customization, i.e. tailoring to needs, concerns mainly forms of contact with customers, as well as building an offer for them. Advanced algorithms and big data technologies are helpful in this respect, as they are used for a thorough analysis of data.
– Robots in communication with the customer in the bank are not yet used on a mass scale, but we are heading in this direction. Especially in the service where voice communication takes place, these robots have their role to play, as well as in data analysis, in providing access to information tailored to the customer’s needs. I believe that this is a direction that will also develop strongly in the case of the banking and financial market.
However, the digital revolution in banking means a number of security challenges. In this respect, banks also use modern solutions. One of them is voice biometrics, which allows for precise verification of the customer.
– The use of voice biometrics technology makes it possible to verify whether we are dealing with a given customer or not with someone who synthesized the voice of a given user. We are able to verify the gender of a given customer, the level of their emotions. This is very important from the point of view of today’s security aspects – explains Mariusz Jurak, Managing Director banking and financial sector.
This is done using LivePass, a tool based on the use of voice biometry technology. According to Mariusz Jurak, it ensures undeniable identification of the user, using physical and behavioural features of his voice. This process takes place in a non-invasive manner, remotely, during telephone contact or video conversation with a financial institution.
As Jurak emphasizes, LivePass can be used, for example, during transaction authorisation in electronic channels – mobile or Internet banking – and remote customer service, e.g. call center, call center, hotline or virtual branch. It can also be used in other sectors where it is important to authenticate access to sensitive data, such as telecommunications, public administration, uniformed services or health care.

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