Cynergy Bank has announced that it is partnering with Google Cloud and Wipro to provide a different digital banking model – a digital relationship bank.
In addition to digitally enabled traditional lending and savings products focused on customer needs, the bank will introduce a new suite of digital products. These will be delivered through the Bank’s digital tailored and support services and products platform. The model is set to launch in Q1 2021.
Cynergy Bank will offer a personal relationship experience but with the infrastructure and software of a fully digital bank.
These will be delivered through the Bank’s digital products platform enabling the bank’s customers to access the next generation of banking and tailored support services to help customers grow their businesses.
In partnership with Google Cloud and Wipro, they are looking to create the concept of a digital bank with real people to speak to.
Nick Fahy, CEO of Cynergy Bank, commented:
“We are redefining what it means to be a relationship bank in the digital age, with face-to-face service blended with amazing technology,”“Our digital relationship bank – the first in the UK – will launch in early 2021, will enable our relationship managers to become growth advisors to their SME clients, with a suite of inputs, which will be delivered digitally. These include data insights into market dynamics and business performance by sectors. Each of the relationship managers will share these insights with customers so that they can review their business performance against the market and generate tangible actions to drive growth and deliver efficiencies.
Fahy continues,
“Many customers’ needs continue to fall between two stools. The neobanks focus their efforts on app-based delivery and large banks, in their rush to digitise, have failed to recognise that businesses, are looking for human relationship management from their bank as well as the latest digital technologies.”
Fahy concludes,
“In partnership with Google Cloud and Wipro, we will create a digital bank with real people to speak to. We are creating an end-to-end banking and business services technology platform based on Google Cloud and Wipro’s extensive financial services, digital and technology experience. We are really excited about what this new platform will offer our new and existing customers.”
Omkar Nisal, Senior Vice President and Head, Banking EMEA at Wipro Limited, commented:
“Wipro is proud to partner with Cynergy Bank and Google Cloud to create this end-to-end digital banking and business services technology offering. With this partnership, we look forward to introducing a new way of banking to customers in the UK, followed by other markets around the world.”
