Banking Circle Report

 

BANK TO THE FUTURE: Why tomorrow’s idea of financial institutions is already here

Banking Circle recently commissioned an in-depth study of the ongoing impact of the pandemic: ‘Ready for the re-build? Re-thinking the value of digital infrastructure’.

‘BANK TO THE FUTURE: Why tomorrow’s idea of financial institutions is already here’ is the second of three white papers based on the findings. It looks at how the pandemic is accelerating digital delivery of existing services, the use of digital channels and the digitalisation of the underlying processes.

Some key findings include:

  •  93% agree that customers value experience more than they value institutional stability
  •  90% are building technology design and architecture into their business planning
  •  80% of retail banks and 74% of commercial banks have already worked with infrastructure providers
  •  Just 14% were unable to realise the efficiencies they set out to achieve from more flexible, outsourced infrastructure

This paper looks at the signs of a sector transformed and ready for whatever happens next.

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