Overview

The BFSI sector is in a disruptive state as customer needs and technologies rapidly evolve. Uncertain economic conditions make financial decisions more volatile. According to Frost & Sullivan’s Global 360^o Growth Opportunity Analytics Team, “Global headline inflation will fall from 6.9% in 2023 to 5.8% in 2024, while core inflation will persist. Advanced economies will start cutting interest rates in H2 2024, but emerging economies will start earlier than that.”

When interest rates drop, consumers have more buying power. In the BFSI industry, this impacts growth in consumer spending for big-ticket items, such as houses and cars, often requiring loans and insurance. BFSI contact centers need to be ready for more interactions across channels. They will also need to invest in analytics to create campaigns to attract more customers and empower agents to close the deal on loans.

• How will new banking and investment options create growth prospects that can ensure seamless transactions?
• How do megatrends such as open banking and central bank digital currencies (CBDC) generate major growth opportunities for banks to expand their services with higher-margin products?
• How can you explore the implementation plans of interaction channels, applications, and solutions in the contact center environment in the BFSI industry to achieve growth?

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