TV2 News, Denmark: Cognizant’s Country Manager in Denmark Says Banks Need to Think About Running Differently and Find new Ways of Operating

“There is a trend towards mobile solutions. We started out with a platform for online banking,” says Thomas Djursoe. “A lot of people have adapted this, and then moved on to mobile solutions. And now we have mobile payment. What is the next big thing? How flexible are we when it comes to our daily interaction with our bank? Should the bank be accessible from your pocket in the form of a tablet or a smartphone? Trends are showing that we are moving in that direction.” Excerpts:

“We will have to get used to the idea that banks in the future will be seen more as software or IT companies than ordinary banks. The reason for this is because they need to innovate in order to gain new markets. ‘Disruptive innovation’ means to change the way traditional banking is perceived today in order to face the challenge of competitors entering the market.

Demands, such as complying with new regulatory requirements and driving innovation, are key factors for this change. But there is a limit to internal resources, so instead of thinking about only running better, banks need to think about running differently as well; find new ways of operating. This is what banks are doing at the moment in Denmark.”

Click here to watch the video in Danish posted on Business.dk.