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Banking's Digital Transformation: Changing the Landscape

Updated: Feb 13

Digital Transformation in Banking

Gone are the days when the bank’s operations were characterized by traditional brick-and-mortar procedures currently in the limelight of digital transformation.

According to Alan McIntyre, a senior managing director of global banking practice at Accenture, “Banks are in better place who have invested in cloud. It enables them to cut through the noise with different various operating model”.

By adopting the latest technologies and user-centric solutions, banking sectors can enhance their streamlined processes and service offerings while staying competitive in this rapidly changing landscape.

According to a study, nearly 2.5 billion people will leverage online banking services by 2024. It includes data encryption software, online banking applications, website optimization, etc.

But the million-dollar question is HOW?

Continue reading to find the answer. Before that, let’s have a brief digital transformation in banking.

What is Digital Transformation in Banking?

With new technologies, banks are streamlining their operations, improving customer experience while reducing costs. New tools and technologies have introduced facilities like mobile and online banking. It enables customers to pay bills, carry out transactions, and access their bank accounts from the comfort of their homes.

This transformation has also led to the rise of digital-only banks. This bank entirely operates online and has no physical branches. With the help of machine learning, artificial learning, and big data, banks can offer personalized services and products that fit into customers' bills. In a nutshell, the impact of digital transformation is diverse within the banking industry, making it more agile, convenient, and efficient.

What are the Benefits of Digital Transformation in Banking?

A Look at the Digital Transformation Trends in Banking

What are the 4 Key Factors Driving Digital Transformation in Banking?

Which Banks Are Embracing the Digital Transformation to Make a Change in the Industry?

How can Danip Technologies help the banks digitally transform their business?

In response to the changing business landscape, Danip Technology is committed to taking banking services to the next level through digital transformation. Our experienced team applies new and improved ways to leverage the power of digital transformation and its technologies. Our services are cost-efficient, reliable, and convenient and comply with the latest banking regulations.

Talk to us today if you’re running a banking business and want to take it to new heights by embracing digitization. We will be more than happy to help you!

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