Digital transformation in banking

The current coronavirus pandemic has highlighted the need for financial institutions to accelerate their digital transformations in banking. But to keep up with changing times and stay ahead of potential future disruptions, the banking industry needs to adjust business models for both front-facing and back office operations. Adopting the latest technologies, including blockchain, cloud computing and IoT, is at the foundation of true digital banking and a full transformation.

At the heart of any transformation strategy is the consumer. With interest rates near 0%, banking fees decreasing dramatically, and customer expectations expanding, financial institutions need to optimize their big data to automate business processes and reduce costs. By modernizing their applications with artificial intelligence, cloud technology and automation, banks can rapidly develop omnichannel products, services and functionality. This helps improve the user experience and deepen trust and loyalty. IBM can guide you through a successful digital transformation.