Security: In-branch vs Digital Banking
In-branch Banking
In-branch security
Hand signature
Customer identification
Audit, Business rules
Secure vaults
Digital Banking
End-point protection
Digital signing
Authentication
Fraud management
Data Encryption
Traditional vs. Digital Banking Models
Traditional Banking Model
- Bank Branch is the center of the banking experience
- All interactions with customers originate with a branch experience
- Customer definition is confined to branch footprint
- Digital delivery is layered on top of branch system
- Duplicative products and services offered through various channels
Digital Banking Model
- Customer is the center of the banking experience
- Customers choose how they interact with the bank.
- Customer definition is not confined to branch footprint
- Digital delivery is the centerpiece of product & service offerings.
- Product and Service offerings are tailored to the customer's delivery preferences
The Challenges
1. The Data
2. The Regulation
3. The Technology
4. The Culture
5. The Qualified staff