Finanswatch, Denmark: Cognizant’s Country Manager for Denmark Says Danish Banks Need to Prepare for Battle Against Alternative Players

“It all starts with understanding the customer,” says Thomas Djursoe. “By using analytics, banks can look at their customers’ Code Halo. Code Halos are the digital footprints you leave behind each time you click, comment or search the internet whether it is from you laptop, tablet or smartphone.” Excerpts:

“By tapping into this data and analyzing it, banks can better understand their customers, which enables them to tailor solutions to each customer.”

The banks of the future might very well be called Google, Apple or Facebook. At least in the sense that you are now able to use your smartphone to pay for your groceries in the supermarket or wire money to your friends via your Facebook account.

Threats from the outside have started to move into a market that is usually seen as a domain belonging to the traditional banks. But what must the banks do to avoid being overtaken and become superfluous?

They need time-off to think and come up with similar solutions in order to meet the technological development that society is going towards.

But not for long: contactless payments are constantly evolving, and it is therefore important to move now.”

Click here to read the article in Danish.