Is it really a digital financial institution?

Tags Customer Experience Data Digital Banking Open Banking Operational Efficiency

As the banking sector continues its march down the digitization road, patterns have emerged that allow for an objective assessment of whether a financial institution is making serious progress on its journey toward digital. Here are 10 questions designed to get at the heart of that question:

1. Does the financial institution have a mobile-first distribution model?
2. Is the financial institution eradicating back-office manual work through intelligent operations?
3. Is the financial institution embracing open banking?
4. Is the financial institution willing to push the boundaries of its business model?
5. Has the financial institution become a truly data-driven organization?
6. Has the financial institution committed to public cloud as its default infrastructure?
7. Does the financial institution understand that true enterprise agility is a team sport?
8. Does the financial institution’s business strategy emphasize innovation?
9. Does the financial institution have a disciplined FinTech engagement model?
10. Does the financial institution have a culture and human resources approach that values technology and engineering skills?

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