Retail banks are entering a digital race. Branch dominance is being replaced by digital distribution excellence. Most leaders recognize this evolutionary trend. But few know how to sustainably steer their business in the right direction.
Three hot-button issues are rattling the minds (and budgets) of banking leaders:
- CX excellence: What technical shortcomings stand in the way of improving our digital service?
- Competitive pressure: Are we using IT infrastructure optimally to differentiate ourselves and excel over our competition?
- Regulatory requirements: How can we ensure full security coverage of our newly assembled digital infrastructure?
Given the uncertainty in the banking sector, a reluctance to interfere with existing technology (especially core legacy systems) is understandable.
Yet prolonged inaction can lead to obsolescence. By 2030, up to 80% of heritage financial services will cease to exist, become commoditized, or exit because they’re no longer competitive unless banks move forward with digitization.
This whitepaper proposes a three-step banking digital transformation roadmap for technical changes that are progressive, non-disruptive, and ROI-oriented. Learn how to shift budgets from maintenance to innovation, tackle technical debt, and arrive at a future-ready IT ecosystem without experiencing critical downtime.