Cynergy Bank Worked with Google Cloud and Wipro to Offer a Digital Relationship Bank

​Cynergy Bank, announces that it has signed a partnership with Google Cloud and Wipro Limited to provide a new digital banking model–a digital relationship bank. The strategic relationship will combine the best of Google Cloud and Google Cloud partner technologies, Wipro's domain and technology expertise and Cynergy Bank's relationship management know-how. 

The new model is set to launch in Q1 2021. The new model promises to "transform banking" for customers. It offers a blend of digital technology and a traditional face-to-face relationship. More specifically, the Bank will go beyond banking into offering a suite of additional tailored services delivered digitally to customers.

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 products platform enabling the bank's customers to access the next generation of banking and tailored support services to help customers grow their businesses.

Nick Fahy, CEO of Cynergy Bank, said, "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."