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Evolution of Roles in Commercial Banking
Evolution of Roles in Commercial Banking
Ganesh Subramaniam

Senior Consultant at Draup

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Evolution of Roles in Commercial Banking

21 May 2019

Draup deep-dives into the digital transformation of traditional banking roles

 

The banking industry is increasingly using digital tools to boost sales through personalized products and experiences, while simultaneously benefiting from reduced operational costs. Digitization has become a means of survival for the banking industry and this has caused a digital shift in the nature of core banking roles in order to implement workflows, processes, and infrastructure that leverage the large volumes of data banks have at their disposal. Traditional commercial banking roles have undergone a serious makeover post-digitization and here are some key takeaways:
1. Large Number of Digitally Disrupted and Influenced Roles
Large Number of Digitally Disrupted and Influenced Roles
Job roles across the commercial banking value chain are largely segregated into 4 distinct categories on the basis of the intensity of digital impact and automation. They can be categorized under Digital NativesHighly AutomatedDigitally Disrupted, and Digitally Influenced. Digital disruption has also given rise to several executive roles such as Head of Digital Payments, Head of Digital Strategy, and Head of Digital Product Management.
2. New-Age Roles Have Significant Impact Across the Value Chain
New-Age Roles
Banks are extensively using AI-based analytical tools and automated process to assist the sales officers, RM’s and analysts in providing personalized experiences to clients at a lower operating cost. City Bank has launched its commercial banking application for tablets – Citidirect BE, to help clients with transactions on the move. Banks such as ING and Santander are partnering with Kabbage to leverage data analytics capabilities to gauge the risk and creditworthiness of a business seeking a loan.
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