How to Build Your Career in Digital Banking & Skills Needed
With the rapid evolution of technology, banks are also adopting technology to serve their customers to grow and ripe. Due to the demonetization in India on 8 Nov 2016, cash payments were reduced, and digital payments inflated seamlessly.
Since then, digital banking has been augmented over the years. That in turn, created so many job opportunities in digital banking.
What is Digital Banking?
Digital banking refers to the use of electronic or online platforms to manage financial transactions and banking services. This includes using a computer or mobile device to access banking services such as account management, money transfers, bill payments, and investment management.
What Does a Digital Banker Do?
A digital banker has many tasks to perform, and some of the most important ones are listed below.
- A Digital Banker is a person who brings new customers and persuades them to register for mobile banking.
- They are responsible for achieving sales targets regarding mobile banking activation and usage.
- Digital bankers participate in product campaigns to ensure customers have easy access to product information and provide exceptional customer service.
- Customers are asked to provide feedback on products and services offered.
- Assist with the sale of goods and services for mobile banking.
- They provide adequate documentation and help customers with Know-Your-Customer rules.
Benefits of Digital Banking
Digital banking is always available and gives customers 24/7 access to their money and more ways to use it. It means that customers who are unable to find the time to go to a branch or plan a Saturday around their money can access it online.
Customers can check their account balances and pay bills while they're on the go. They can also transfer money, make loan applications, and make purchases. Online payments are possible without the need to visit a branch.
How To Build a Career in Digital Banking
Candidates with a commerce background can go for an advanced 3-year diploma course in banking and finance. And Graduates can enroll in a 1-year PG Diploma in Banking and Finance. Here are some strategies for success in the modern job market
Essential Skills to Become a Digital Banker
These are essential skills to become a digital banker:
It is essential to understand the key aspects of digital banking and how they can be applied to your business. Digital platforms are preferred for reaching customers in today's connected world. For digital banking services, sales and marketing are crucial. To be able to use the latest banking tools, it is important to adopt new technologies.
Ability to manage digital risks
New risks arise in the digital age of financial services digitization. Banks could be at risk from cybersecurity, regulatory compliance, and synthetic identity fraud. Banks should use digital platforms to help distinguish real customers from fake ones. It is crucial to understand and manage these risks.
Data Skill Sets
Banks are heavily using data analytics for problem-solving, decision-making and data analytics. Banks can use data-driven approaches to customer segmentation to reach their target audience. Data skills are crucial to deliver better customer experiences and generate insights.
Go through this post to build a successful career in banking
The candidate must have these to pursue a career in Digital Banking:
- The candidate must have passed 12th from a commerce background.
- A three-year Advanced Diploma in Banking and Finance.
- Candidates must have technical knowledge as digital banking is mainly related to technology.
Popular Digital Banking Courses
There are some specialized Digital Banking Courses listed below:
- PGDM Banking and Finance (NIBM)
- NSE PGP in Investment Banking and Capital Markets
- BSE Banking and Finance
That's all about digital banking and its aspects. It is the most lucrative career opportunity anyone can go for due to the evolution of technology. The candidate can find new opportunities for growth in digital banking.