FLORIN BOLDESCU, Chief Digital Officer, BRD – Groupe Societe Generale: Banks successfully learned from fintechs

We are still digesting the past six months of this year but, so far, within organizations, the concept of the day is Work from Home. The model of hybrid working, integrating the WFH component will reverberate at the entire level of companies and business organizations in their way of running the daily operations.

There has been a big jump in the digital story for everyone and the big questions will address how fast the companies could change, not only in banking, but also other industries. People really reacted to the new context and tried to deal with to cope with the new environment.

The busines environment is healthier right now than before the pandemic period. The competition is healthy in any kind of industry and the main benefiter is the consumer. The banks learned from fintech a lot and we can see this kind of learning in their services and provided solutions and about the way they do business. The competition will become harsher and harsher we use more tech-based solutions.

One of the main focuses should be the overall education at the level at the country It is important to have the decision makers to understand the technology and the use of technology. Another important element that should be in focus is  element is legislation and its purpose  to achieve the digital transformation objectives.

The statement has been uttered within the recently held web conference dedicated to Digital Transformation Conference – Fintech & Banking.

The event benefitted from the support of DIAMOND PARTNER Wipro Limited, GOLD PARTNERS ACCA, Inform Lykos, OTP Bank, STRATEGIC PARTNERS ARB (Romanian Association of Banks), CIO Council, ARIR (Romanian Investor Relations Association),  PARTNERS Arval, Sea One, Wave, WITH THE SUPPORT of ANIS, Cluj IT, FabLab Iasi, and MEDIA PARTNERS Outsourcing Today, Financial Intelligence, Economistul, Romania Durabila, Club Economic and Pin Magazine.

BANKING AND FINTECH are transformed by the digital revolution that gives this industry a chance to rethink its models, to better address the new consumer’s demands and needs, to better communicate and anticipate its behavior. However, the transformation of organizations is an undergoing process and the fintech companies play a major role in pushing the process forward. The use of emerging technologies – Analytical, Big data, cloud, Internet of Things, Blockchain, omnichanneling are not anymore new concepts but daily working tools in banking and fintech companies.