When was the last time you physically went down to your bank? If you’re even modestly tech-savvy (I’m sure you wouldn’t be reading this otherwise), I’m betting you haven’t said ‘Hi’ to a teller in ages. While some may mourn the loss of the ‘personal touch’, perhaps we’re just looking at a different form of personal touch these days.
Opening a physical branch today equates to significant investments in expensive real estate, manpower, and operational costs, while yielding decreasing benefits to its customers. So banks have gone a different direction. In a 2016 UK study, it found the number of bank branches dropped from 20,583 to only 8,837 within 30 years. Here in Singapore, hot on the heels of numerous branch closures, we rank the second lowest in bank branch density among 21 countries.
There’s the obvious shift to online and mobile banking that causes this. Fast, scalable, and a great customer experience at a fraction of the operating cost.
But while you’re walking and banking on your mobile, if you look up, you’ll notice the surge of roadshows and booths. Instead of waiting at a branch for you, the banks are taking the branch to you. It’s an even more convenient, personalised experience for the customer. Instant access to credit cards, personal loans, and insurance. I’ve even seen ATM on trucks on the roads.
This shift is great from a cost savings perspective, but it presents an interesting set of challenges to IT:
- How do you provision and maintain your apps on these thousands of devices?
- How do you ensure data transmission is secure and safe from snooping?
- How do you keep out unauthorized or rogue devices?
- How do you make the user experience seamless, without messing around with multiple user names and passwords?
- Is there a simple way to administer all of the above?
Admins would be looking at a combination of a VPN with custom ciphers, encrypted containers, single sign on to cloud and on-premise applications, along with comprehensive endpoint posture checks and mobile application management.
Or as we like to simply call it at Pulse Secure: Secure Access. Last year, we added 300+ new logos as customers, and 200+ talented members to the Pulse family to help us on this mission. We’ve got some exciting announcements in 2018 so keep this line warm, follow us at @PulseSecure on Twitter, or on LinkedIn and Facebook.