Summary: This eBook discusses the effects of the latest cutting-edge trends in banking and provides a structure for diligently using advanced technology to establish transformational digital business resolutions. Data and advanced analytics are constantly being deciphered by financial institutions to determine, target and assist customers while reducing risk and dedicating resources to data protection. For banks launching progressively elaborate technology solutions, it is essential to rely on extensive business fundamentals and a strong solution plan in order to acquire benefits from new technology deployment. A process with requirements leads to a comprehensive design ensuring a financial institution will create and influence new technology trends rather than reacting to them.
- 81% of respondents indicated the importance of strategic analytics
Key Takeaways: Technology is evolving the way customers communicate with their bank, influencing deposit services, lending methods and payments methods. The most important technology trends in banking today surround the categories of digital solutions, omni-channel banking, data analytics, lending innovation, compliance and risk management. Banking customers want to exchange seamlessly with their banks digitally and personally through multiple channels. Mobile is revolutionizing how consumers do everything, including how they bank, pay, receive loans, research and spend. With the expansion of entry points to a bank’s customer information, any new technology deployed in banks must depend on a well-defined scope and business essentials in order to accomplish expected benefits.