Advancing Towards Autonomous: Exploring the Future of BFSI Industry from Digital Shifts
In a groundbreaking move, the Indian banking and finance industry is currently undergoing a sweeping digital transformation. This transformation not only involves revamping existing IT systems but also harnessing the potential of data, analytics, and even the power of generative AI. These digital shifts are setting the stage for autonomous banking, a concept that could be likened to the “driverless moment” of the banking experience.
One company that has boldly embraced and capitalized on this digital transformation journey is BUSINESSNEXT, previously known as CRMNext. Shifting from being a CRM platform provider, BUSINESSNEXT has successfully repositioned itself as a comprehensive end-to-end digital banking solutions provider.
Today, the company is at the forefront of powering the digital transformations of India’s largest banks, including HDFC and SBI. With over a decade of strong relationships with these industry giants and many others, BUSINESSNEXT is well-poised to guide banks towards an autonomous future in the BFSI industry. Leveraging their expertise and experience, the company aims to enable banks to thrive in the ever-evolving digital landscape of banking and finance.
Through innovative AI, generative AI, and automation technologies, BUSINESSNEXT, as a custodian of the digital transformation of BFSI, is prepared to take banks to the next level with the launch of its next-generation platform, GPTNext.
This platform’s key focus is on providing a comprehensive view of the “Total Experience,” breaking down the silos that separate customer, employee, and user experiences, and surpassing the boundaries of traditional omnichannel experiences. Prominent features include autonomous banking, self-service capabilities, AI-powered customer insights, and complete observability of IT stacks. These revolutionary aspects are seamlessly integrated into existing platforms such as CRM 360, Smart RM, CustomerNext and DataNext, offering an all-encompassing solution for the industry.
At the opening of BUSINESSNEXT’s first experience center in Noida, Sushil Tyagi, Executive Director of the company, discussed how it has been driving digital inclusion for over two decades while maintaining a complex banking ecosystem with zero security breaches. Currently supporting over 1 million bankers across 65,000 branches and call centers, managing 1 billion end customers worldwide, BUSINESSNEXT is well-established in the industry.
He emphasized, “The importance of the experience center in executing the foundational digital aspirations of the BFSI industry. He stressed the industry’s goal of achieving high economic growth by skillfully navigating the intersection of technology, security, and compliance, all while ensuring a seamless banking experience for customers.”
When asked about BUSINESSNEXT’s perspective on the digital journeys of most banks, Tyagi highlighted, “While banks are investing in sleek and user-friendly interfaces, digital channels like mobile applications and web platforms, and customer-facing features, these efforts should not be seen as the sole solution to their digital journeys. BUSINESSNEXT understands the need for a holistic transformation that encompasses all aspects of banking operations.”
In conclusion, with its steadfast commitment to innovation and autonomous banking, BUSINESSNEXT is spearheading the digital transformation of India’s BFSI industry. Its platforms and solutions are set to revolutionise the banking experience, empowering both banks and customers alike.
