Greetings! Hope you all are doing great.
At the outset, let me take the opportunity to inform you about Pennant launching this quarterly newsletter with an objective to provide our customers a window into the current banking and financial services industry trends, emerging technologies, and some of the things that Pennant is doing to make our customers stay ahead of the digital curve. We hope you find the information and updates relevant and useful.
The Covid-19 pandemic has completely changed the way we are doing business. It has compelled businesses across the globe to re-look and transform their existing processes and systems to a new way of doing things. In some ways, the pandemic has been a bellwether of rapid adoption of digital technologies. Banks and Financial Institutions have always been in the forefront of technology adoption, however Covid-19 has compelled them to up the ante on their Innovation focus. Fintechs, without whom the banking industry would have collapsed under the weight of the pandemic, have always leveraged technology to adopt new ways of doing things. Their role, post pandemic will be on an increased level of innovation and disruption.
The post pandemic surge in business demand has created an unique situation, which the industry cannot ignore. The rush for digital transformation programs is creating increasing demand for skilled digital talent, and owing to the gap in availability, which in turn is impacting talent acquisition and management.
Further, the Lending industry is facing multiple challenges including a demanding consumer who is looking at banks/financial institutions to service them on their terms and convenience. Personalization of service has arrived! For example, for a bank to survive and succeed it is now imperative for it to have a quick turnaround to provide flexible, customised loan offers to their customers. This is the age of the digital consumer, who needs solutions and services real-time, frictionless and on his channel of convenience. Financial institutions need to constantly evolve their lending practices, systems and operations in an agile way, to keep up with the customer and ensure its survivability and growth in the market. A technology partner with the agility of a fintech provider, experience of a banker and expertise in leveraging cutting edge technology to deliver future proof solutions will be the need of the hour for the financial services companies.
Pennant, a leading provider of digital banking solutions and services including lending, has been helping banks and financial institutions across the globe to effectively meet the dual challenge of digital disruption and engaging the digital consumer. Our Lending Platform is currently being used by some of the premier Financial institutions in the middle-east and India.
Its time to re-boot, to pivot, to capitalise on the emerging opportunities and importantly become future ready!
Take care and Best wishes.
Rama Krishna Raju
Director & CEO