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Episode 11:

Reinventing the financial services distribution without dehumanizing the bank



Core Banking Systems were designed around the concept of bank branches and jobs for customer advisers. All the changes and new services that have been developed for decades have been built around this concept. Online banking has replaced the customer adviser's workstation with the web pages of the home banking site and one engine drives everything in parallel. Then, all the multi-channel projects began to appear and again, the goal was to make the same functions provided by the adviser's workstation accessible via the internet, mobile phones, etc.

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The platform is now questioning that. Some are calling their new vision the omni-channel. It actually uses almost exclusively the customer's smartphone and it is deploying a branch-less banking network. It is calling into question the absolute essence of banking processes and reinventing the organization of financial services distribution. And the Digital Banking Systems have been designed specifically to support these new processes.


Concentrating every aspect of the banking system within the mobile phone allows more agility and easiness in handling the financial services. Moreover, the lack of branches is not dehumanizing the service because digital mobile banks can offer networks of local agents to provide anything that the digital banks cannot. Every country, target and community, according to its own needs, will be able to use these local banking agent services. The bank is then able to find its fundamental purpose: being the economic facilitator between the actors of a community.

Next episode:

Newcomers: A Tesla in a Trojan horse

To be continued...