The global pandemic has brought unprecedented challenges to the BFSI industry, with the closure of branches, reduced face-to-face interactions and a shift towards remote working. As a result, digital transformation has become a key priority for organizations to stay competitive and maintain customer engagement. Digital transformation in the BFSI industry has been accelerated by the pandemic. Many banks and financial institutions have increased their investment in digital technologies such as online banking, mobile banking, and chatbots to provide customers with convenient and safe access to financial services. This has not only improved customer satisfaction but also reduced operational costs for banks. In addition, the use of data analytics has become more important than ever. Financial institutions are using advanced analytics to better understand their customers and to identify potential fraud or risk. This allows banks to make informed decisions and offer personalized services to their customers. Alex George, Country Manager, India & South Asia, Riverbed Technology , says, “At various points in time, different solutions have been acquired to address different challenges, and it’s difficult to find an enterprise today that doesn’t have at least five to six, or more, tools or visibility solutions examining various network and application […]
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