According to research from Cornerstone Advisors, more than half of the chief executive, finance, and operating officers do not believe their firm’s lending capability is “future-ready.” So what exactly does it mean to be future-ready? And how do you know when you are?
McKinsey has estimated that some $80trn of economic activity will ultimately resolve into platforms. As platforms continue to eat the world, banks need to prepare and respond to keep up with this evolving trend say our payments experts Tony McLaughlin, Citi and Anders Olofsson, Finastra.
Overcoming legacy systems remains one of the biggest obstacles for banks looking to offer a frictionless experience. Digitization can be seen as an expense; in reality, it provides banks an opportunity for new revenue growth.