Harnessing the Power of Ecosystems – a research brief from Kapronasia, AWS, and TCS featuring Standard Chartered nexus

Popular social media and entertainment platforms have reset customer expectations. Customers see what is possible on Netflix, Amazon, and other tech platforms and want the same kind of service from their financial institution.

This hyper-personalized, on-demand, anytime, anywhere service is typically a challenge for traditional incumbents that now have to compete against digital banks and fintechs with digital-first technology infrastructure which enables these players to create extremely specific “micro journeys” to engage customers on a new level—something that traditional players struggle to match. Another challenge for incumbents is the cloud-native, digital-first players’ head start. If incumbents want to remain relevant, they will have to deliver the hyper-personalized experiences that their customers are increasingly demanding and expecting.

This paper was written on the basis of the Harnessing the power of ecosystems to create hyper-personalized customer experiences webinar from Kapronasia in collaboration with AWS and TCS, featuring Standard Chartered nexus.