Friends, Welcome to the final storyline of digital banking landscape. As we have seen in the last segment, banks have to go through very fancy innovative projects to implement various new generation ideas. And those ideas could include artificial intelligence, blockchain, machine learning Big Data etc. However, it is important that banks also conduct major project in terms of physical infrastructure, back end modernisations and various tech driven applications especially to maintain straight through processing of the front end. And in the larger goal of becoming digital, all of those projects become very important. Let us go through some illustrative items which are essential for a bank to become fully digital So with banking moving from branches to digital or internet and social media, what exactly is the future of these branches and stores?

Do these branches lose their need and existence? Do tellers and branch manager lose their jobs? Well, maybe true, but only partially. Most of these branches in advanced countries are becoming relationship centers, or they can be also called as meeting places. And that's a place where customer can discuss about the best investment plan, financial allocation planning for family funds, etc. They are no longer traditional cash deposit on a cash withdrawal transactions.

In addition to this, branches are slowly turning to become self assisted channel and that's what conducting transaction with the help of It is techno gadgets. However, everything is not changed, but slowly it's changing. Let's look at future generation branch. For example, Brad school next of Brazil have an innovative branch with multi app wall and they also have a small reward named link 237. And this is one of the best example of self assisted branch where robos and ABS a guiding customer using predictive analysis, machine learning artificial intelligence, before customer into the premises bank would already know that 360 degree view of a customer and start responding to his or her needs just to continue on our innovation story or physical branches. Bank of America is experimenting with completely automated branches with No onsite employees bank has already opened so called tellers Robo branch, one in Minneapolis, and two in Denver.

However, in the year 2018, this branches are more experimental. In next five to 10 years more branches will become combination of self assisted branches and relationship centers. However, some branches may cease to exist. Having seen few new age innovations, let's now come to more practical view of traditional channels where CIO would spend his money. Previously, ATM machines used to do a major role for cash handling in a bank. However, ATM machines are now seniors intelligent relationship Boggs post banking hours, however, last 15 years bankers have been debating whether they should really invest in ATM machines or digital currencies are really gaining ground or cash.

Digital banking means online dynamic result with instant decision and approval. For example, get your car loan instantly within 60 seconds, or resolve all your queries in five seconds either actually banking, internet branches, chat boards or any other channel. While marketing teams can do all these fancy announcements, it is important for banks to respond with a back end support. Most of the banks did automation starting year 1980. And therefore many banks are now stuck with the old legacy applications made in COBOL code or huge mainframes. And these infrastructure needs to change massively in terms of Take architecture as well.

Most of the banks have massive transformation program to set their house in order. And this budgets could cost as nearly hundred million plus, or could be half a billion dollars a time. Previously, banks had only one or two channels of interaction such as branches or call centers. However, with plethora of various new channels, it is important for banks to integrate with multiple channels of customer interaction. And this may be applicable anytime during the lifetime of a customer journey. For example, when you are acquiring a new customer, when you are servicing a customer, when you are responding to his queries, when you're closing the account, etc, etc.

It is essential for CIO of a bearing to think of multi channel integration when banks plan to go Digital and no bang can be digital and automated. A bank is not automated from back office middle office front office. Similar to enterprise wide transformation and multi channel integration bangs out to ensure that payment systems are also integrated to suit the needs of the customer. And this may be true for every type of transactions, for example, a shopping invoice collection, fund transfer bill pay, credit card, simple check or a cash payments etc etc. Customers are demanding banks to support them holistically and comprehensively. Moreover, bangs out to also develop several layers of payment system for example, payment gateways, regulatory needs, interbank settlement, international fund transfer and stock exchange Neason many others While we talk about various integrations, I wanted to give you some glimpse about many of the projects which banks automation teams runs on.

For example, let us see the usage of document imaging in banking, and that involves also optical character recognition or OCR. And that's very useful for banking and various purposes such as loan documentation, know your customer documentation and various other customer related data. Today's digital banking involves integration of documents with this core banking system to give a quick, quick view and good decision making. Why we have seen a lot of new initiatives within the bank, integration of external system which are not in the control of banks is a major priority for CIO of a bang. For example, many bangs across the globe called operate with swift messaging system for international payments and bangs out to necessarily integrate with those swift messaging, if they want to continue doing a fast international transactions in Australia Bank style with a corporation called valid corporation for ready Property Valuation, and all of such integrations are in to be a straight through processing or STP.

And all of this helps to give a quick view and results to the customer. Customer relationship management or CRM software plays an important role in helping sales and marketing teams to connect with the customer. every decade starting from 1990, this CRM software has gone for a radical change. Previously, this CRM application was merely storing customer profile data and now slowly started connecting with marketing campaigns in all period of time it got linked with entire customer lifecycle in the current generation CRM has to connect customer using social media. In addition to beams, CRM, software's are now aligned to incorporate big data analytics and predictive computing to forecast on the next move of a customer. So, it is essential for banks to enrich CRM software's after every few years.

So friends, we have come to the finishing line of entire digital banking story. While concluding, I can say that this innovation journey shall always continue with new avatars, new technologies, new buzzwords, every year CIO shall be challenged with the problems never seen before. It is important for all of us as students of banking to study and implement the best path applicable to this journey. And that will bring about the change to this planet with new generation innovation. Thank you friends, as you have been wonderful partners in my journey of digital banking storyline to send your feedback on this coverage and Let's meet again