“Banking and financial services understand these demands, so it’s no surprise they are increasingly adopting cloud platforms; the global finance cloud market is expected to grow more than 22% annually through 2025. To ensure a swift, seamless transition to cloud platforms, we believe banks must overcome five major challenges. They’ll need to reengineer processes and…
Tag: Digital Transformation
World’s Best Digital Banks 2021: Round 1
“Since the launching of Bank of America’s Life Plan in October 2020, more than 4 million customers have used it to set and track short- and long-term goals. Underpinned by AI, Fatema has over 700,000 impressions on social media and is the first digital banking assistant to have its own social media account. A year…
Innovate or optimize? Companies need to operate like its 2020 for the next four years
“’This study captures the pulse of global business leaders and their nearly ubiquitous belief that massive digital opportunities abound in the next five years, and their company culture must embrace an innovation mindset,’ Respondents also ranked innovation, customers and employee experience as more important to company culture than shareholder value. The top 10 list looks…
India launches Account Aggregator to extend financial services to millions
“On Thursday, eight Indian banks announced that they are rolling out — or about to roll out — a system called Account Aggregator to enable consumers to consolidate all their financial data in one place. (Participant banks are HDFC, Kotak, ICICI, Axis, SBI, IndusInd, IDFC and Federal. Four of them are rolling out the system…
85% of Deposits Now Made Digitally at Bank of America as Growth in Client Engagement with Digital Continues
“Today 85% of deposit transactions are being made through the Bank of America app, ATMs and other automated channels – driven by nearly 48 million checks deposited digitally during the second quarter alone. As of the beginning of last month, more than 70% of Bank of America clients are actively using digital channels for more…