6 Digital Banking Transformation Trends for 2022

“Data and AI Will Differentiate Winners from Laggards

As mentioned in previous articles, data and analytics is the fuel that powers all other components of digital banking transformation. In 2022, it is expected that the combination of data and AI will be the most important differentiator between winners and losers in the marketplace. Customers expect their financial institution to know them, understand them and reward them – in real-time – based on their daily lives and changes in their financial profile. Using internal resources, and partnering with third-party solution providers, financial institutions will be able to replicate the intelligent experiences they became accustomed to during the pandemic with Netlix, Instacart, Google, Amazon and others.”


Top 10 Retail Banking Trends and Priorities for 2020

“As we enter a new decade, banks and credit unions must rethink their strategies and priorities as data and analytics is applied to product development, distribution, innovation, back office support and improved customer experiences. Now is the time for a ‘disruptive mindset’ in banking.”


Are Banks & Credit Unions Losing Out on Savings Apps?

  • “As of October 2019, the U.S. personal savings rate stood at 7.8%, according to the St. Louis Federal Reserve. And a survey by Bankrate found that 40% of Americans can’t come up with $1,000 to handle an unexpected emergency.
  • At a time when consumers are begging for help, banks have a chance to be a hero and better their bottom line in the process. Automated savings apps not only enhance the customer experience but keep money in the bank that would have otherwise been spent.”


AI Advantages in Banking Grow, Adding Pressure for Broad Adoption

“In an effort to determine how frontrunners are deploying AI, the Deloitte Center for Financial Services surveyed more than 200 financial services executives who were already using AI technology. Their research identified three key characteristics”…view full article – By Jim Marous, Co-Publisher of The Financial Brand and Owner/Publisher of the Digital Banking Report


How Community Banks Can Compete In The Digital Age – Financial Brand

The Financial Brand has posted a well written article from Alex Jimenez of Zions Bank. I’ve included his 6 steps to solve the digital dilemma, but checkout the full article for more details.

Alex Jimenez – VP & Senior Strategist

Zions Bank


Community Bank and Credit Union Response

“Community banks and credit unions can solve these dilemmas.  At a high level, these 6 steps must be taken:

1 Obtain full support for a transformation agenda from the executive team

2 Assign transformation to a high-level team member or team

3 Adopt ‘Jobs to be done’ (JTBD) design principles within product management functions

4 Engage existing technology partners and industry disruptors

5 Develop transformation goals for all areas, including risk management

6 Build innovation into the culture of the organization”