Digital Banking Innovations and Transformation

About the Course

Understanding and interpreting the new banking ecosystem is vital. Traditional banking is shifting towards new approaches. Disintermediation is the biggest threat; commercial bank money is challenged by valid and growing alternatives, both unbacked (e-money or crypto-currencies) and backed (Central Bank Digital Currencies - CBDCs). The full scope of innovating and transforming the business is the foundation for a valid sustainability strategy to ensure growth and allow business going concerned, which is a vital aspect of theory and practical methods and techniques. 

FinTech falls under the more extensive umbrellas of Financial and Technology domains. It is focused on multiple applications: forecasts, crowdfunding, infrastructure (local/international switches), big data analysis, and many more. However, the knowledge of new business models is limited as it is fast evolving in the financial services landscape. Keeping up with the constant innovations is challenging as it should be adapted to different types of businesses and conditions; its methods are also applicable to single projects.

Digital Transformation can be considered a subset of the broader Business transformation strategy. No financial institution can survive and grow only by following other models, as the current innovations are usually scalable. The incumbents-innovators immediately generate huge entry barriers to prevent disruptors from challenging their dominant position. Understanding and designing new business transformation strategies ever, along with the use of new technology, is therefore essential.

This Digital Banking Innovation and Transformation training course focuses on modelling strategies with unique approaches based on case studies and applications. Practical exercises will be performed during the training, and the delegates will be able to master the understanding of the current FinTech ecosystem.

Core Objectives

The delegates will achieve the following objectives:

• Understand the importance of digital banking innovation
• Apply fintech innovations and evaluate successful business models
• Assess business (and digital) transformation by analysing potentially disrupting new technologies and business models
• Enhance decision-making skills through the experience and lessons learned from relevant case studies

Training Approach

The blended methodology includes the delivery of lectures based on the essential theory rooted in the open/closed innovation frameworks, disrupting innovation, business modelling, and business transformation. Practical examples (updated case studies) will also be provided and integrated with real-time brainstorming sessions. The delegates will be provided PDFs of relevant Books and scholarly articles, worksheets, and strategic techniques.

The delegates will have the knowledge and skills to perform their tasks successfully. This training course adopts strategies and methodologies suitable for upskilling and reskilling. Consistent and logical steps are followed to ensure complete understanding and application of the intended topics. All studied topics are carefully selected to ensure they help improve the organisations.

The Attendees

Likewise, it will be valuable to the professionals but not limited to the following:

• CEOs
• CFOs
• Banking Professionals
• Procurement Management
• Digital Transformation Managers
• Business Transformation Managers
• Clerks and Specialists who wish to advance their career
• Whoever works closely with strategic or IT departments

Daily Discussion

DAY ONE: NEW TRENDS IN THE BANKING AND PAYMENTS INDUSTRY

• The Role of Commercial Banks
• The Disintermediation Risks:
  • CBDCs
  • E-payments
• The Online Payment Revolution

DAY TWO: INNOVATION THEORIES AND APPLICATIONS

• Open Innovation vs. Closed Innovation
• Business Modelling: Business Model Canvas
• Disrupting Innovation
• Digital Transformation

DAY THREE: MONEY RAISING THROUGH FINTECH INNOVATORS

• Crowdsourcing/Crowdfunding
• Strategies and Bank Competitors
• Partnership, M&A, or Wait-and-See

DAY FOUR: THE IMPORTANCE OF DATA ANALYTICS

• The Role and Importance of the Local and International Payment Switches
• Financial Services Information Processing
• Privacy and GDPR: Customers’ Rights
• Artificial Intelligence Applications (Forecasting and Data Mining): To what extent?
• Personal Finance and Investments

DAY FIVE: BLOCKCHAIN AND CRYPTOCURRENCIES

• Digital Payment Platforms
• Types of Blockchain and suitability to ensure Trust in Digital Payments
• Money Laundering, Illegal Activities, and Speculation
• The Future of Digital Assets: NFTs and Digital Barter
• The Regulatory Environment and Financial Fraud