Changes in demography and how banks reposition themselves to reap the advantages of demographic dividend will be a crucial deciding factor for the success of bank. The GenNext banks would be providing life cycle wise products and services, right from birth till death, under one roof.
The essential idea is that a relationship once built at birth carries on till death and all the products and services are made available under one umbrella. Technologically, next generation banking would mean several interconnected applications and flexible orchestration, driven by business needs, and without a long intermediation cycle. This would call for seamless their customers.