Research Project: Disruptive Technology and Banking models in 2020 Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Research Project: Disruptive Technology and Banking models in 2020 Case Solution

1. Introduction:

The main reason for change is the innovation in technology.This transformation is the cause of the disruption and resulted in the erosion of successful positions and as a result, the demand of the customers increased regarding more margins and added value in brokerage services.(Stefanie Auge-Dickhut, 2015)

The banks are emerging in the networks that provide the price to performance configurations and for this the bank must emphasize directly on this feature, which would cause a gradual change in the needs and demands of the customers as well as it would require reorientation of business models by replacing them from previous models.

Keeping in mind the end goal to unequivocally and safely utilizing the cloud as a part of the managing an account industry later on, it is the key that the bank has a reasonable and reliable technique in view of business and corporate targets, given the extent of variables which affect the choice of decision open or private cloud, IaaS or BpaaS, determination of that is complex, yet at the same time an important task.(LUCOVIĆ, 2013)

In any case, banks are seen as just guarding their fee based plans of action, when they ought to address the issues of the customers.Nowadays, customers look for profoundly individualized networks and more prominent scope of organizations, such as Starbucks, Google or Alibaba, which are considered as major competitors for baking sector. (Schmid, 2014).

It is observed that the digital age is the main cause of emergence in the email, mobile phones. This resulted in the main changes in the three conditions due to revolutionary innovation which includes, (1) technology improved with the help of innovation; (2) innovation led to success of the entire economic growth (3) it activated a wide range of organization, socially and politically.

1.1 Background:

The financial services industry is experiencing emotional changes as a result of changing client behavior, channel expansion and the digitization of business and society generally. The decrease in cost and increasing sales still remain the key drivers, among others in retail managing an account.

The changes occurring in the value of money are driven by numerous basic difficulties and open doors over the business, concerning protection, (retail) managing an account or other monetary administrations.

In spite of wide assertion,all banks are exceptionally or to some degree essential.Less than 20% of officials feel that they are exceptionally prepared against these needs, and just a comparable report is prepared that they are making huge speculations in these zones.

Banking with the un banked (urban and rural) will turn into an essential approach objective in both developed and developing countries, as governments intend to earn profit from more extensive access to money related services for their masses. As a result, this would will drive new products and plans of action, as well as it will turn into the essential core interest of legislative or state-supported establishments, especially where the private division cannot satisfy the need.

The demands of the customers are being formed given their interactions outside the company.They require variety and supervision, which they get from commercial enterprises as that would put light on the customers’ experience.

By 2020, online networking will be the essential medium to associate, connect with, advise and comprehend your clients (from the mass 'social personality' to the particulars of every last individual), and the spot where clients research and consider the banks' offerings. However, nowadays, data and sentiment can be enhanced, creating new threats. Nowadays, banks have an oversimplified knowledge of their clients as well, which is an immensely complex line of offerings. The winners in the year 2020 will be able to create a better understanding with their clients as well, significantly streamlining their item set, and thus conveying an essentially upgraded client involvement with lower levels of operational risk. The banks should start with understanding the clients’ needs, and not with the products nor pricing of the products..................

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