The Continuum of Digital Transformation for Commercial Banking in a Post-pandemic World
The COVID-19 pandemic has driven various industries towards digital transformation, and the banking and financial industry is no different. The ongoing trend of digitalization in the banking sector has been accelerated and can bring a significant impact on the bottom line of an organization, if used in a strategic direction.
The banking sector can use this transformation in the post-pandemic world to enhance customer experience and a smooth service delivery by efficient use of data along with cloud, AI and automation. It is important that banking institutions become more digitally equipped while keeping the root of financial services - consumer trust, intact.
In the article by Mr. Arvind Raman, Infosys, published in the ET CIO.com, Mr. Raman highlights the importance of effective use of data and how it is a critical business asset which ensures the success of financial services companies beyond their primary goal of delivering secure financial transaction.