This IDC Perspective pins down a destination for digital transformation in banking, describing in detail where the market is headed, highlighting pitfalls, and offering advice to providers of banking services.
"With so much attention given to self-driving vehicles, it is easy to forget that automation is transforming industries across the board. Banking is a case in point. The combination of open banking, heightened customer expectations, and threats from Big Tech is forcing banks up the value ladder toward experiences and transformation. In a few years, most will need to invest heavily — if they are not doing so already — into technology, partnerships, and staff to create the banking equivalent of an autonomous vehicle. Banks that take the lead are more likely to win over long-term customers, who could be lost not just to other banks but also to tech giants looking for new lands to conquer." — Research Manager Mark Yates, Verticals/Insights, IDC CEE
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