The dynamics of banking operations are changing rapidly, as banks strive to combine efficiency, service quality and digital innovation. The global trend shows that customers expect comprehensive, simple and faster banking services, while organisations are investing in technology, automation and process reengineering to meet new demands.
The pressure to reduce costs, improve customer experience and strengthen compliance creates an environment that requires strategic vision, agile management and continuous investment in human resources. At the same time, the digitalisation of banking operations offers new possibilities for end-to-end management, ensuring better performance and risk reduction at every level of operation.
Current trends and practical approaches for the back office and banking operations were recently analysed by senior Operations Managers, focusing on increasing efficiency through centralisation, process optimisation and automation.
Speaking at the 13th Banking, Payments and Fintech Forum and Expo presented by Logicom, experts highlighted how banks are embracing digital transformation both in the back office and across their broader operations, with the main goal of improving customer experience and enhancing efficiency. The discussion focused on 'Transforming Banking Operations for Efficiency & Growth' and offered practical approaches to achieving these goals.
Phivos N. Leontiou, Chief Operating Officer, Operations, Eurobank, analysed the key factors of change, starting with human resources. As he said, the training and specialisation of personnel, combined with the right choice of employment model (permanent, temporary, external), are crucial factors for the successful operation of banking processes. At the same time, the optimisation and reorganisation of operations (streamlining) allows for more efficient cost management and the reduction of human errors, while the collection of feedback from employees ensures continuous improvement of processes.
Nicholas Mavrogenis, COO, Alpha Bank Cyprus Ltd, stressed that the main mission of operations is “to make banking easier for the customer.” The challenge arises from operating in organisational “silos”, with multiple legacy systems and a lot of manual transfers, while the customer expects a smooth, integrated experience. According to the expert, improving in individual steps creates friction in the customer experience, while the approach should focus on the entire customer journey and on integrated solutions.
Maria M. Kiteou, Operations Division Manager, National Bank of Greece (Cyprus), pointed out that new generations will experience banking through applications and digital products, seeking efficiency and lower costs.
In the future, banks are considering the development of embedded banking and strategic partnerships to provide new services, while maintaining the personal and traditional element of branches to serve existing customers. Technology, he stressed, enhances existing services without alienating customers, ensuring long-term relationships and strengthening the brand.
The panel was moderated by Nikolas Anastasiou, Director, Business Solutions and Services, Logicom Solutions.
Main Sponsor: Logicom Solutions
Gold Sponsors: Ecommbx, Freedom Holding Corp., PwC Cyprus
Silver Sponsor: Moneygate , Parsectix, Sliq
Strategic Partner: Cyta Business
Sponsors: GZG, IMR/University of Nicosia™, Teroxx, payabl
Supporters: Alpha Bank, Bank of Cyprus, CDB Bank, Eurobank, National Bank of Greece (Cyprus), SGBCy
Exhibitors: EFFECT, Ellinas Finance, JCC Payment Systems, KLIDI, Profile Software
With the support of: ACB, ACEMPI, CFA Society Cyprus
CommunicationSponsors: CBN (Cyprus Business News), GOLD magazine, IN Business magazine, Omega TV, Reporter, Super FM
Organiser: IMH
Website: www.imhbusiness.com
(Source: InBusinessNews)
