How Banking has Changed for Good
The ongoing COVID-19 pandemic has challenged many aspects of the banking business model — from causing disruptions to the branch network to accelerating the adoption of digital financial services as customers. These changes, coupled with the entry of digital banks and changing customer expectations, introduce new competitive dynamics across financial services.
Banks now more than ever need to re-evaluate their business models and explore technologies that can transform and enhance their legacy systems to become more digital, agile, and responsive to their innovation efforts.
44% of the top 250 banks across the Asia Pacific are focused on completing their “connected core” transformation — working on platform-based and Componentized modernization, and API-enablement.
Where are things headed next beyond 2020 and into 2021? This IDC InfoBrief takes a closer look at key trends driving changes across the banking industry and the forward views on the core themes that are integral in defining a digital strategy for financial services to re-emerge from the challenging times and thrive in the new normal.
Available now on-demand at your convenience! Hear the thought-provoking conversation between IDC, Finastra and banking industry leaders from WeLab and Kotak Mahindra Bank as they discuss the findings of the IDC InfoBrief to examine ways banks have responded to the new normal and the best way forward in a post-covid world.