Digital Roadmap For Participation Banking

COVER SUBJECT 01.02.2022, 13:02 01.02.2022, 13:18
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Digital Roadmap For Participation Banking

The Participation Banking Digital Research Report published for the first time in 2021, comprehensively discusses the dynamics of the sector at the global and regional level in the light of new generation technologies, trends, changing legislation and customer expectations. The report will contribute to the objectives of digital competence formation in participation banking developed in the updated Participation Banking Strategy Document. It has been prepared to be a road map in the sector with the results of the interviews with fintechs, neobanks, banks and participation banks and the survey results of 2,246 people with different demographic and socioeconomic profiles.

The report discussed the strategy components created under the headings of the customer, product, business model, channel, organisation, technology, innovation and education. 28 pairwise evaluation analyses were carried out over the pairwise grouping of the components to portray the actions more clearly. Within the determined digitalisation strategy framework, the leading digital initiatives and actions that participation banking should take in the short and medium-term period are specified.

Identified Key Digital Initiatives:
•    Designing models for digital customer acquisition
•    Implementing segment-oriented collaboration
•    Assembling technological infrastructures for open banking models
•    Increasing digital literacy and developing digital competencies

It is aimed that participation banks will become competitive in the sector by digitalising them from end to end, improving their operational processes, expanding banking products and services that offer a personalised experience, increasing their communication and even providing different services other than banking in line with customer requests with the actions to be taken by our banks within the framework of the determined initiatives.

CURRENT PARTICIPATION BANKING DIGITAL CUSTOMER EVALUATION

The number of participation banking digital customers, which increased by 16.3% between the 3rd quarter of 2020 and the 3rd quarter of 2021, reached 3.6 million as of the 3rd quarter of 2021.

Participation banks have also been providing remote customer acquisition as of 

May 2021. The success rate of remote customer acquisition, which includes all participation banks in the sector, was 45% between June 2021 and October 2021, with a total of
34.6 thousand remote customer acquisitions. Although the success rates of remote customer acquisition of participation banks differ positively from traditional banking, participation banking digital customer market share is 5%. The digital customer market share growth is seen as the primary target in reaching the 15% market share

Featured Areas in the Field Survey Study
•    Confidence perception of participation banking customers is positively differentiated in the sector.
•    Awareness of participation banking digital products and services and improvement of products and services are considered areas of development. The young population represents a greater potential.
•    Collaborations between participation banks and fintechs, which are agile and innovative but have not yet gained the trust of their customers as much as participation banks, are considered as a potential area of opportunity.

PLANNED STUDIES IN THE FUTURE PERIOD TO INCREASE DIGITAL COMPETENCE

Plans are initiated at both TKBB and with our banks to implement the studies related to the determined digital initiatives and actions. Action areas will be evaluated within the ongoing strategy project management activities. It is expected that our banks will shape their digital strategies and increase their investments in line with customer expectations and needs, transforming service understandings, new generation innovative trends, new players in the sector and regulations.

TKBB Banking Services Manager - Sevcan Ekmen

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