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How Digital 2.0 Is Driving Banking’s Next Wave of Change

Cognizant

In the last few years, a wave of digital technologies changed the banking landscape - social/ mobile altered the way banks engage with customers,  analytics enabled hyper personalized offerings by making sense of large datasets, Cloud technologies shifted the computing paradigm from CapEx to OpEx, enabling delivery of business processes as services from third-party platforms.

Now, a second wave of disruption is set to drive even more profound changes - including robotic process automation (RPA), AI, IOT instrumentation, blockchain distributed ledger and shared infrastructure, and open banking platforms controlled by application programming interfaces (API). As these technologies become commercialized, and demand increases for digitally-enabled services, we will see unprecedented disruption, as non-traditional banks and fintechs rush into all segments of the banking space. This whitepaper examines key considerations for banks as they explore value in the emerging Digital 2.0 world.

Tags : cognizant, banking, digital
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Published:  Oct 23, 2018
Length:  20
Type:  White Paper