The financial sector is on the cusp of yet another transformation. Customers emerging from Covid-19 are demanding new and better sets of services to meet their new consumption patterns, be it how they shop, eat, work or transfer money. It's a dramatic shift that is compelling banks to transform or risk being left behind.
"The traditional business model of banking has changed because customers expect more from banks. It's not just lending and taking deposits, but customers expect them to be an adviser for what they're doing," says Bambang Moerwanto, regional vice-president of the Germany-based enterprise software corporation SAP.
