How should banks prepare for the digital era?

Beijing | China

As COVID-19 remains a global threat, its human impact becomes even more significant. The highly contagious nature of the virus has spurred public concern that the disease may be transmitted through banknotes. With this idea in mind, consumers seem increasingly ready to embrace digital wallets and contactless payments not just out of convenience, but also because of safety. August 20th, Wiseasy CTO Riad LAQLACH shared how Wiseasy can help banks and merchants to get prepared on Digital Africa Symposium.

It is estimated that the percentage of transaction values done digitally will increase from 57% to 67% by 2025. Riad noted on the symposium, a cashless society is on the way, and several factors are at work as the change drivers in the payment market, which are changed market infrastructure, changed customer behavior, new technologies, changed competitive environment and new regulatory initiatives. Faced with the new changes, there is no doubt that the way of banking will be revolutionized and how should they get prepared?

On the symposium, Wiseasy CTO Riad introduced the completed digital banking solution, which is composed of a series of Android smart terminals and cloud-based software. With Wiseasy’s solution, banks can extend their branches with the lowest costs. For example, the fingerprint module embedded WPOS-TAB enables identification, document scanning, e-signature and customer information storage and so on, which conveniently and smartly meet the demands to provide banking services such as account opening, deposit, withdraw and purchasing of financial goods.

Till today, Wiseasy’s digital banking solution has helped dozens of banks to deploy digital banking services such as First Abu Dhabi Bank and Lesotho Postbank. By developing new technology systems and new network facilities, Wiseasy aims to help transformational banks, developing acquirers and institutions, growing financial technology companies and expanding mobile operators provide rich financial services to a wider customer base with lower cost and more convenience.