Consumerization of Financial Services – Philips Eapen, Head BFSI, SAP India Sub-continent
If we look back into history, the telephone industry took 75 years to launch itself whereas Pokemon took 19 days to reach to the population of billions. This is only because of technology advancements. When the products and services are being rendered in a mode which is easily accessible, relevant and is in tune with what the customer is expecting, it can reach to masses in a short period of time, Easpen said.
Citing the example of digital disruptions and how a future of a company depends on their ability to match with the expectations of the customer, he said, in 2004, the company named blockbuster, which was into renting videos, CDs, DVDs came in. It was one of its kind in the market. However, then Netflix came and started with the same model, but they leveraged digital in a very different manner. By 2015, the blockbuster company vanished with Netflix taking the lead. This happened because Netflix was able to reach the expectations of the customer.
Read More: https://bfsi.eletsonline.com/technology-plays-a-vital-role-in-the-growth-of-a-company-philips-easpen-head-bfsi-sap-indian-sub-continent/
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