Adopting a boundaryless mindset to maximize growth and thrive in the new normal
Over an year into the pandemic, the banking and financial services industry has more clarity on the path ahead. As financial institutions strive to identify new avenues of sustainable growth to thrive in the new normal, we believe that the future of banking will see the rise of boundaryless banking that goes beyond traditional constructs to explore new opportunities. To drive the boundaryless banking agenda and enhance business outcomes, banks must become smart. In addition to a boundaryless and smart strategy, achieving sustainable growth will also require banks to embrace a humane approach toward multiple stakeholders including customers, communities, and the larger economy.
To drive sustainable growth and enhance customer engagement, banks must:
Break the barriers of existing execution capabilities to become agile
Build resilience, develop autonomous execution capabilities, and lay a cognitive foundation
Be sensitive and nurture the needs of all the stakeholders