Kantox Hosts Banc Sabadell: The Future Of Banking Presentation

Pol Navarro, head of digital transformation at the Spanish bank, Banc Sabadell, visited the Kantox offices in Barcelona recently. Navarro gave our team a presentation on what Banc Sabadell sees coming in the banking sector and the strategies it intends to implement to win the customers of tomorrow.

Banc Sabadell Presents Its View for the Future of Banking in the Digital Age

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Pol Navarro of Banc Sabadell, giving the Kantox team a presentation on the future of banking at the Kantox office[/caption]The presentation proved to be informative and insightful, allowing our team to see how one of Spain's leading banks intends to succeed in a period which is seeing pervasive change in the banking sector on a global level.12 main focus points from the presentation:1. The future of banking - a new consumer is emerging2. There are new forms of communication that banks must adapt to - hyperconnectivity, the internet of things, mobile3. A mix of physical and digital experiences - physical bank branches and banking online4. More digital economies emerging - those created by companies such as AirBnB and Uber are examples5. The evolution of digital currencies - Bitcoin and the developement of block chain technology6. New digital competitors for banks7. New digital customers8. The bank of the future - "banks need to break the barriers"9. The Banc Sabadell digital transformation model - (a) new digital relationship model. (b) from multi-channel to transmedia. (c) new innovation ecosystems10. New relationship spaces - a new type of interactive physical branch11. Engagement and smart content for customers12. New innovation ecosystems

Predicting and preparing for the future of banking and finance

Understanding the financial needs of clients, of what will be in demand in the future, near and far, is a challenge that many banks are now attempting to meet. Banks and other traditional financial institutions will have to adapt to survive in a finance sector that is seeing change on an unprecedented scale.The traditional banking sector currently faces more challenges than it ever has. Technology, changing customer behaviour and attitudes, FinTech innovation and growth, and increased competition are just some of the challenges facing banks.In the last ten years finance and banking has already changed considerably. Many believe it is at the beginning of a pervasive period of change. Will the banks of today be the banks of tomorrow? What do you think?Is Banc Sabadell right in their strategy? What else can banks do to remain competitive? Please join the discussion in the comments section.