Digital Transformation of Banks
Digital disruption is happening at all levels in the banking industry so much so that if banks don’t think in new and innovative ways, they will be reduced to a mere back-office utility. The impact of different business models on the current banking revenues could be huge. Incumbent banks are gradually becoming vulnerable due to innovative technology, new competition, and increased customer expectations. If there is digital disruption, it should be addressed and a digital transformation agenda has to be implemented so that banks stay relevant at all times and fulfill customer experiences in the digital spaces. The fact is