Published: 7 May 2022, 10:18 Updated: 21 May 2022, 11:58Handelsbanken, Volvo Cars and other successful large companies revealed their recipes for success during a livestreamed event. "90 fast-paced minutes." Today we work anywhere, we lead at a distance, develop together and collaborate across borders and time zones. What does it really take to succeed in a digital world? We received the answers at a livestreamed event on 6 May, where Sweden's foremost experts together with host Peter Settman discussed how we create the conditions for new forms of growth and success. The Salesforce Live event was organized by the customer relationship giant Salesforce, whose Sweden manager Dan Bjurman says: – During 90 fast-paced minutes, we were inspired by new ways of thinking, and took part in concrete success factors for acting in the new digital world. Together with, among others, Handelsbanken, Volvo Cars, Sandvik, MatHem, Trustly and Stadsmissionen, we received sharp examples from various industries, and surveys about the future from Professor Micael Dahlen and futurologist Ashkan Fardost. From Handelsbanken, Catharina Belfrage Sahlstrand, Group Head of Sustainability and Stephan Erne, Chief Digital Officer, participated in a breakout session. They told about the bank's journey in digitalisation and sustainability, where they stand today and how they see the future.Take part in Salesforce live As in other industries, the pandemic has accelerated further digitalisation in the banking sector and brought new priorities. Every year, Salesforce examines which issues are most important among decision-makers in the financial industry globally. The latest report "State of Finance 2020" with 2,800 respondents points to large differences before and after the pandemic outbreak. Download State of Finance 2020 here – Financial players in the Nordic region have completely rearranged their priorities. Increased personalization of banking services is now seen as the single most important issue, followed by increased automation of processes, says Rob Klomps, CTO Financial Services EMEA at Salesforce, and adds: – We also see a turning point in that a majority of customers now prefer digital advice over physical. Handshakes and personal conversations are no longer considered crucial to building trust. But a bank that rarely or never meets its customers must work more data-driven to anticipate their needs and meet them.
Algorithm-driven financial services
To succeed in this, banks must acquire a 360-degree view of their customers. – They must become better at collecting, understanding and acting on customer data in an intelligent and consistent way. And they need to know the customer's financial milestones and goals. Digital consulting and other automated and AI-supported banking services are becoming increasingly smart. Rob Klomps highlights algorithm-driven financial services that make decisions or carry out assignments on behalf of the customer, as a future area. Why have banks not come any further in digital services? – Because they are stuck in outdated IT structures and systems that are not so easy to connect and because their organization reflects the products and not the customers. Their digitization has been based on products such as lending, payments, savings. But customers do not think "which product can solve my problems", they see their financial position and their needs. The product approach must be removed and replaced by customer focus. The bank's employees were previously the customers' primary point of contact, but now digital channels are at least as important and the experience of these needs to be improved. Those who succeed best with this will be the winners in the new digital banking market, says Rob Klomps.Take part in Salesforce live here