Sattar Kazimov, CDO at Unibank

Welcome to SettleMint’s newsletter, Chief Digital Heroes.?

Every week, we interview an expert leading the charge on all things digital transformation at the world’s most innovative banks and financial institutions, then write up a summary of the top actionable lessons you can learn from them.?

In our latest edition, we dive into our interview with Sattar Kazimov , CDO at Unibank . Here are the top takeaways from the interview.?

1. Knowing your customer will drive your digital initiatives.

"You should know, first of all, your client, your focus group. You should look to your data. Because if you don't know what your customer wants, maybe you will build the best system, best innovative thing. But if your customer doesn't understand you, this is a fail. ...?

“Your customer is the guy which paid for you. He can pay not only with cash, he paid with his attention. In the app store, he chose you and you should do something for him."

Actionable Takeaway: As you look to build your suite of digital products for your customers, ask them what would really help solve their pain points and start there. You don't want to build an app that no one ever uses.?

2. Use AI to improve your customer experiences and decision-making.

"The advancement of artificial intelligence tools is pivotal for optimizing processes, improving customer interactions, and enhancing operational efficiency within the Azerbaijani banking sector. ...?

“Artificial intelligence should be part of our decision-making, should be part of our life. Because we're based on data. ... It's the next level because we will not look to the data only, we will look to the solution from this intelligence."

Actionable Takeaway: There's a lot of opportunity for AI to transform banking. Use it for optimizing processes, improving customer interactions, enhancing operational efficiency, and pulling insights from your data so you can make more informed decisions.?

3. Why digital transformation requires constant change.

"We need to change and we need to invest not in the development of a branch network, for example. You should invest in technology, IT guys, new initiatives. Your initiative — not it's just, I have an idea, I will go there. You need to test your idea. You need to MVP, you need to test on the customer journey map or employee map before you will spend money.?

“But even now you come and say that in a couple of years, you will not be able to work like that. And you need to change again."

Actionable Takeaway: Digital transformation requires change, which requires continuous investment in technology and digital talent. It’s an ongoing process because once you accomplish your initiatives, expect to change again.?

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