Aspire Systems Launches ‘The Millennial Banking Technology Framework’ for Indian Banks

To re imagine millennial engagement strategies, Aspire Systems has launched a technology framework for millennial banking to give banks a head-start to transform next-gen customer experiences.

Chennai, 6^th September 2017: Leading technology services firm Aspire Systems launched The Millennial Banking Technology Framework for banks to wade through millennial customer paradox, making it every global bank’s guide to survival in the millennial age. In India, banking is on the cusp of radical change while banks are living dangerously at the whim of the digital-savvy millennial.

The Millennial Banking Technology Framework would help banks expand their markets, drive new revenue streams and foster a climate of innovation. It has millennials at the center of the value chain with a strong emphasis on 3^rd party partnerships. These partnerships could be with their service partners, solution partners, aggregators or payment providers. The layers of millennial engagements extend into Accelerated Mobility, Amplified Social Connectivity, and Contextualized Analytics that fit into the Scalable Cloud to deliver digital banking experiences with the highest standards of risk management, security and compliance.

Millennials are emerging as one of the largest living demographics in India and smartphone adoption is on an exponential rise among them. They expect complex financial narratives around their lives to be decoded and simplified. According to the Millennial Disruption Index, 73% would be more excited about a new offering in financial services from Google, Amazon, Apple, PayPal or Square than from their own nationwide bank. The days are numbered for banks that don’t get it right as they are now at the highest risk of disruption.

Srini Peyyalamitta, VP, Banking & Financial Services at Aspire Systems has strongly advocated the need for banks to move from being product-centric to become more customer-centric. He continues, “Banks definitely need to brace themselves for the millennial banking revolution. Millennials seek trust from their banks and this Millennial Banking Technology Framework is designed to put customer outcomes at the forefront making banks their trusted advisor. This framework is launched as part of the Millennial Banking Awareness Initiative that the company is running throughout the year for Indian bankers.”

About Aspire Systems:

Aspire Systems, a global technology services firm, works with some of the world’s most innovative enterprises & Software Vendors, helping them leverage technology in Aspire’s specific areas of expertise. Aspire’s services include Digital Experience Solutions, Product Engineering, Enterprise Solutions, Independent Testing Services and IT Infrastructure & Application Support Services.

The company currently has over 1,900 employees, over 100 customers globally and is CMMI Level 3 certified. Aspire also have a growing presence in the US, UK, India, Middle East, Asia-Pacific and Europe. For the eighth time in a row, Aspire has been selected as ‘Best Companies to Work For’ by the Great Place to Work® Institute.

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