Deloitte Digital launches digital banking offering

Deloitte has announced the launch of Digital Bank, a new services offering designed to assist banks in accelerating their digital transformation. James McLaren, Associate Director for Digital at Deloitte, discussed the key features of Digital Bank in an exclusive interview with CNBC Africa. McLaren highlighted how digital innovation and disruption have reshaped customer expectations in the banking sector globally. Deloitte's work with financial institutions revealed a gap in meeting these evolving customer demands, prompting the development of Digital Bank to provide tailored banking capabilities with accelerated implementation. McLaren emphasized the importance of exceeding customer expectations, enhancing customer experience, and fostering trust in banking relationships. He also addressed the role of technologies like blockchain in achieving these goals, acknowledging the potential of blockchain to enhance efficiency and security in banking operations. Furthermore, McLaren underscored the shift from product-centric approaches to need-based consumer modeling, positioning Deloitte Digital as a key player in enabling a customer-centric experience in the financial industry. The discussion also touched on cybersecurity challenges facing banks, with McLaren highlighting the importance of upholding best practices to mitigate ransomware threats and safeguarding banking systems from cyber attacks.