The transformation of retail banking has only just begun, with the pace of change only getting faster. The focus on digital delivery goes beyond online and mobile banking apps to the core of the entire banking operations. Without back-office modernization, the front-facing digital technologies will eventually fail to deliver the experiences expected by today’s consumer.
Leading banks and credit unions are investing heavily in digital banking technology, improving how consumers use mobile, web or digital platforms to access banking services. The application of big data, advanced analytics and new digital solutions are being combined with modern design elements to simplify a consumer’s life and potentially expand beyond financial services.