The digital banking transformation trends that emerged in 2021 have driven banks to change at an exponential rate in order to meet consumer expectations in more effective and efficient ways. The capacity to conduct business hinges on banks and credit unions’ ability to respond swiftly to consumer needs, leveraging technology to help legacy systems and workforces adjust to a new normal. The COVID crisis placed financial marketers into the spotlight, requiring them to react quickly to unforeseen situations. Instead of selling services, marketers were encouraged to personalize communications to assist clients in coping with the financial consequences of the pandemic.
The concentration on automation and robots seems appropriate at a time when most financial institutions are anxious about the likelihood of loan losses and income shrinkage in a post-pandemic economy. Robotic Process Automation (RPA) can boost productivity by acting as a cost-effective replacement for both in-house and outsourced human personnel. RPA offers cost savings greater efficiency, accuracy, client satisfaction, and seamless flexibility. However, most of the financial institutions are increasing investment in privacy and security solutions more than any other technology. Not only are the risks of breaches increasing, but consumers are becoming much less tolerant of organisational mistakes. Cybersecurity and data privacy will become a unique selling proposition (USP) for many financial institutions and big tech organisations. At this juncture, consumers will control access to their data stored on apps, the web, and other digital channels, with banks burdened complying with increasingly stringent regulations.
To help organisations select the best-of- breed Digital Banking Solution Providers, our distinguished panel comprising CEOs, CIOs, CMOs, analysts ,and the Banking CIO Outlook Europe’s editorial board has reviewed and select the Top 5 Digital Banking Solution Providers in the banking industry. In our selection process, we have evaluated a vendor’s competency to provide efficient as well as cost-effective digital banking solutions and services.
Here, we present you Banking CIO Outlook Europe’s “Top 5 Digital Banking Solution Providers in UK - 2021”.
