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Revolution Accelerated How Digital Transformation is Shaping the Future of Banking Like all businesses, banks have had to act fast to respond to the unprecedented human and economi

Interpretação de Textos (Understanding)

CESGRANRIO · 2021

Revolution Accelerated
How Digital Transformation is Shaping the Future of Banking 

Like all businesses, banks have had to act fast to respond to the unprecedented human and economic impact of Covid-19.
First, they needed to keep the lights on and ensure business continuity. Second, they had to meet the changing ways customers wanted to engage. Finally, they sought to balance their business priorities with a responsibility to support society. Previous crises cast the banks as part of the problem — this time they are part of the solution.
Banks who have embraced modern banking technology have fared better in meeting these challenges. They’ve moved seamlessly to remote working, kept up service for their customers, coped with huge increases in demand and quickly adapted their products. In contrast, banks using legacy ‘spaghetti’ software have struggled.
Covid-19 has accelerated the need for modern banking technology, but it didn’t create it. Before coronavirus, the 2020s were already being framed as the decade for digital in the banking industry. Banks’ return on equity were too low and their cost-income ratios were too high. Meanwhile, regulation like open banking was disrupting the industry and increasing competition from new entrants like the GAAFAs (Google, Amazon, Alibaba, Facebook, Apple).
Providing seamless digital customer experiences was therefore already a ‘must’. Every year, Temenos partners with the Economist Intelligence Unit (EIU) for a global study on the future of banking. More than 300 banking leaders are interviewed from retail, commercial and private banks. Over half of these are at C-suite level.
In 2020, the study took place amid the Covid-19 crisis. The results give a fascinating insight into banking leaders’ approach during these unprecedented times. But they also show how they see their industry in the years to come.
And the findings suggest three trends which will shape the future of banking:
1. New technologies will be the key driver of banking transformation over the next 5 years. 77% of respondents strongly believed that Artificial Intelligence (AI) will be the most game-changing of these technologies. They see a diverse range of uses for AI — from personalised customer experience to fraud detection.
2. Banks will overhaul their business models to create digital ecosystems. 80% of respondents believe that banking will become part of a platform of services. 45% are committed to transforming their business models into digital ecosystems.
3. The sun will set on branch banking. World Bank data shows that visits to branches have been steadily declining globally over the last decade. As a result of coronavirus, customers are now more concerned about visiting their branch, and so even more people are willing to try digital applications. This combination of pandemic and increasingly transformative advanced technology has led a majority of respondents (59%) to our survey with the EIU to state that traditional branch- based banking model will be dead in just five years. That’s a 34% increase from last year.
The current environment is undoubtedly challenging for banks. But they have the capital, customer relationships and customer data. They are regulated. And most importantly: they still enjoy their customers’ trust.
In short, banks are best-placed to succeed if they commit to end-to-end digital transformation. That means a fully digital front office which creates hyper-personalized experiences and ecosystems. And a back office driving efficient operations and rapid innovation. By embracing modern banking technology, banks can support their customers today, create new value for the future and drive new levels of future growth.
Available at: <https://www.cnbc.com/advertorial/how-digital-
-transformation-is-shaping-the-future-of-banking>.. Retrieved on:
July 13th, 2021. Adapted.
From the sentence of the last paragraph, “By embracing modern banking technology, banks can support their customers today, create new value for the future and drive new levels of future growth”, it is inferred that
  1. banks cannot grow after the coronavirus pandemic.
  2. modern banking technology can help reshape the present and the future of banks.
  3. modern technology can frustrate the present and the future of the banking industry.
  4. as result of the coronavirus pandemic, banks will not be able to meet customers’ demands in the future.
  5. due to the coronavirus pandemic, banks are not able to meet customers’ expectations in the present.
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Gabarito

B

Comentário do professor

Alternativa correta: A alternativa B está correta pois o texto enfatiza que, ao adotar tecnologias bancárias modernas, os bancos podem não apenas manter seu suporte aos clientes no presente, mas também criar novos valores e impulsionar o crescimento futuro. Isso está alinhado com a ideia de que a transformação digital é essencial para a evolução e adaptação das instituições financeiras, especialmente em tempos desafiadores como a pandemia de Covid-19, que acelerou essa necessidade.


Alternativas incorretas:

A: Esta alternativa é incorreta porque o texto não afirma que os bancos não podem crescer após a pandemia. Pelo contrário, menciona que a adoção de tecnologias modernas pode levar ao crescimento futuro.


C: A alternativa C está errada pois sugere que a tecnologia moderna pode frustrar o setor bancário, enquanto o texto claramente indica que a modernização é uma chave para o sucesso e a adaptação dos bancos.


D: A opção D é incorreta, pois o texto não sugere que os bancos não poderão atender às demandas dos clientes no futuro. Em vez disso, indica que, com a tecnologia certa, eles estarão melhor equipados para atender a essas demandas.


E: Esta alternativa é incorreta uma vez que o texto não afirma que os bancos não são capazes de atender às expectativas dos clientes no presente. Ao contrário, menciona que a transformação digital permitirá que eles façam isso de forma mais eficaz.

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