Money20/20 Europe Exclusive Video: Bentzi Aviv, Amdocs
As the financial services landscape continues to evolve, personalisation has emerged as a critical factor in meeting customer expectations. At Money 20/20 Europe 2024 in Amsterdam, Bentzi Aviv, Global Head of Fintech Solutions at Amdocs, shed light on the growing importance of tailored banking experiences and the innovative solutions driving this change.
In an era where one-size-fits-all approaches are becoming obsolete, financial institutions are recognising the need to offer bespoke services that cater to individual needs, household dynamics, and community affiliations. This shift towards hyper-personalisation is not merely a trend, but a fundamental transformation in how banks interact with their customers.
Bentzi emphasises that personalisation has moved beyond individual-level segmentation to a multi-layered approach. “For us, personalisation means that you get to figure out exactly what the customer needs based on their own attributes,” he explained. This approach now extends to financial households and communities, recognising that individuals may have different personas and expectations in various contexts.
"You can be an individual in the sense of what are my expectations from my bank? You can be a member of a financial household. So what are my expectations as a member of a financial household? And then again, as a member of a community.”
Addressing the technological challenges faced by traditional banks, Bentzi also introduced the concept of “hollowing the core,” an approach which allows banks to bridge the gap between legacy systems and modern, agile technologies. “Hollowing the core is a very fundamental way of working, and it's one that would help banks while they transform the core banking systems, which always takes time,” he states.
Looking ahead, Bentzi stressed the importance of flexibility over rigid long-term planning. “It's no longer what do I want to do a year and a half from now,” he says. “It's actually, do I have the right technology to be able to address the ever-changing needs of the market. And I think from that perspective, we are doing quite well.”
******
Make sure you check out the latest edition of FinTech Magazine and also sign up to our global conference series – FinTech LIVE 2024
******
FinTech Magazine is a BizClik brand
