A Digital Transformation Journey in the Banking Sector

4 years ago thenewstack.io

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With the pandemic and a number of new regulations, such as open banking, pushing the need for online/digitized services even further, digital transformation is not a one-step approach, but rather an agile iterative process.

They are also able to use this initiative to bring digital transformation to their organizations.

This calls for capabilities such as message transformations, file processing, data polling, reporting, data as services and integration with message brokers. The introduction of open banking and additional regulation brought on the need to share data, such as account/payment information, with customer consent among other third parties such as financial institutions and fintech, regionally and globally.

At the top, these can include mobile banking, ATM and POS operations and internet banking (this list can vary).

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