
4 Technology Innovations that Pushes Banks into a Post-Digital Age
Digital is what is expected from every bank today, and banking is entering a post-digital age where transformation needs are becoming a top priority.
FREMONT, CA: The importance of technology is more significant than ever before in banking. Competition in the market and increased expectation from the customer and digital innovations are requiring banks to embrace technologies to build winning strategies. Below are technology trends that frame the post-digital era and give banks pivotal ways to set themselves apart.
• Upgraded ATMs
When introduced, first ATMs transformed the bank tech system. The coming revolution in ATMs is likely to involve contactless payments, that will allow customers to conduct contactless ATM transactions using their smartphone. Few ATM innovations are already available which have biometric authentication. These technologies can help improve overall bank security by protecting against ATM hacks.
• Proliferation of Non-Banks
Technology will allow banks to deliver a faster, more transparent experience to its consumers. A large portion of their resources is necessarily dedicated to security, compliance, and other industry-specific requirements, which has allowed non-banks or financial service providers to flourish. Since these companies can devote a majority of their resources to financial technology and innovating rapidly and attracting tech-savvy customers.
• Digital Banking
The mobile and digital revolution in banking have just begun and the growth it already shows an explosive growth. Banks invest heavily in digital banking technology, in which customers use mobile, web, or digital platforms for banking. Chatbots, often help customers in simple tasks such as making payments.
• Wearables
Wearables are poised to change the future of the retail banking experience, according to experts. Bluetooth beacons could be sent personal greetings to customers’ smartwatches when they enter a banking location.
Innovative technologies are creating a lot of excitement among banking institutions. If appropriately incorporated, it can have a long term impact on all banking processes.
Featured Vendors
Claim Connect IQ: A Digital Marketplace that Connects Insurance Professionals with the Best Service Providers
FastTrack Disability Risk Management Solutions & Services: Robotics Driven Claims Adjudication Processes
EDITOR'S PICK
Essential Technology Elements Necessary To Enable...
By Leni Kaufman, VP & CIO, Newport News Shipbuilding
Comparative Data Among Physician Peers
By George Evans, CIO, Singing River Health System
Monitoring Technologies Without Human Intervention
By John Kamin, EVP and CIO, Old National Bancorp
Unlocking the Value of Connected Cars
By Elliot Garbus, VP-IoT Solutions Group & GM-Automotive...
Digital Innovation Giving Rise to New Capabilities
By Gregory Morrison, SVP & CIO, Cox Enterprises
Staying Connected to Organizational Priorities is Vital...
By Alberto Ruocco, CIO, American Electric Power
Comprehensible Distribution of Training and Information...
By Sam Lamonica, CIO & VP Information Systems, Rosendin...
The Current Focus is On Comprehensive Solutions
By Sergey Cherkasov, CIO, PhosAgro
Big Data Analytics and Its Impact on the Supply Chain
By Pascal Becotte, MD-Global Supply Chain Practice for the...
Technology's Impact on Field Services
By Stephen Caulfield, Executive Director, Global Field...
Carmax, the Automobile Business with IT at the Core
By Shamim Mohammad, SVP & CIO, CarMax
The CIO's role in rethinking the scope of EPM for...
By Ronald Seymore, Managing Director, Enterprise Performance...
Driving Insurance Agent Productivity with Mobile and Big...
By Brad Bodell, SVP and CIO, CNO Financial Group, Inc.
Transformative Impact On The IT Landscape
By Jim Whitehurst, CEO, Red Hat
Get Ready for an IT Renaissance: Brought to You by Big...
By Clark Golestani, EVP and CIO, Merck
Four Initiatives Driving ECM Innovation
By Scott Craig, Vice President of Product Marketing, Lexmark...
Technology to Leverage and Enable
By Dave Kipe, SVP, Global Operations, Scholastic Inc.
By Meerah Rajavel, CIO, Forcepoint
AI is the New UI-AI + UX + DesignOps
By Amit Bahree, Executive, Global Technology and Innovation,...
Evolving Role of the CIO - Enabling Business Execution...
By Greg Tacchetti, CIO, State Auto Insurance
Read Also
