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iGTB’s Herber de Ruijter on contextual and convenient bank services in expert piece for The Paypers

In the age of digitalisation, APIs and vast amounts of existing client data can enable banks to offer entirely new services and enhance bank-client interactions, rather than just keep up with change driven by regulations and industry competitors, says Herber de Ruijter, Head of Digital at iGTB, in an expert piece for The Paypers.

De Ruijter says banks can develop advanced APIs as service providers, but points out that this comes at the cost of surrendering ownership of the primary relationship with the client. The shift to real time could provide an answer to this, says de Ruijter. This is because bank-client relationships would be more “in the moment” and contextual, opening up a raft of new capabilities for banks to offer their clients, as well as new bank revenue streams.

De Ruijter explains that corporate banks should look to integrate into their clients’ supply chains, just as retail banks are now aiming to become part of consumers’ lifestyles. To do so, corporate banks must understand and anticipate client needs and offer automatic, tailored recommendations – a two-way dialogue, but potentially more meaningful than a traditional human one.

Finally, de Ruijter explains that convenience is key to any offering. For example, digital self-service capabilities – a leading use-case – have often seen solutions hampered by cumbersome front-ends. Fortunately, as long as banks are aware of this, UI/UX is an area where significant improvements can be made to put banks ahead of the competition.

To read the full article, please go here.

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