Cloud to transform the banking experience and relationship for customers

Cloud-based financial services offerings will leverage social and mobile media to transform the banking experience and relationship for customers, says Accenture

Cloud computing is responding to supply and demand. On the supply side, it is enabling new entrants into the market with lower cost platforms. On the demand side, it is enabling customers to bypass the banks and go directly to cloud-based services.

Cloud computing poses challenges for banks, but also offers the tools and capabilities to resist disintermediation by leveraging social/mobile networking and differentiated bundling capabilities for the changing consumer profile. Many banks are doing this already by investing in social media tools and creating a social enterprise strategy, including linking to customers’

Accenture suggests creating Facebook profiles and involving customers in communities ranging from basketball to wealth management. Once a customer opts-in and clicks “like,” the bank gains access to that individual’s personal social profile—which it can then blend with its own customer/transaction information and other public, location and web behavioral data to build a 360-degree view of the customer.

Banks need to see their services not from their own point of view, but from the customer’s—and then innovate to deliver against that view.

(Source - Accenture)

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