Banks need to strike the right balance for digital transformation

“For many financial institutions, this has been a wake-up call,” says Fei. “In the past, many had thought that if they have an online portal and a mobile application then that’s enough. But now they’ve realized it’s not. Some banks have online portals and mobile apps where you can apply for loans, but they still need to send items to the customer and carry out on-site inspection before they can process the loans, which hasn’t been possible during covid. Banks have had to reshape and redesign the whole process of their lending products.”

https://www.google.com/amp/s/www.technologyreview.com/2021/01/15/1016087/banks-need-to-strike-the-right-balance-for-digital-transformation/amp/

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