Learn more on Digital banking, how it’s adapting to the changing customer behavior and why you should consider Digital Transformation for your banking platform in this insight.
The banking industry is going through a dramatic change primarily because of changing expectations from the customers, advances in technology and increased competition from the fintech start-ups. The 2008 crisis decreased the levels of trust in traditional banking and increased churn among the customers. Integrated and enhanced customer experience, reducing the transaction/processing times, increasing revenue and reducing costs are the prime drivers coupled with the need to overcome the challenges mentioned above is why more banks are adopting Digital transformation.
Let’s take a look at what Digital transformation of a bank means.