What Is Digital Transformation in the Banking Industry?
Remember when:Your lunch break was spent racing to the bank before it closed?"Banking hours" felt like a cruel joke designed to test your patience?Was the phrase "the check is in the mail" a legitimate excuse?Your bank manager knew you by name, but couldn't offer much beyond a savings account and a loan? These challenges were not just inconvenient for customers, but they were holding banks back from growth and exposing them to disruption from more agile fintech startups.Digital transformation in the banking industry refers to the integration and leveraging of cutting-edge technologies to revolutionize banking operations, customer experiences, and business models. This technological shift with the cloud, artificial intelligence and machine learning is driving effic...