Banking on tech

A paradigm shift in consumer habit has driven banks to look inward

Much has been said about digital transformation in banking over the last few years. But what does it really mean? Let me start by sharing my perspective.
 
Five-hundred years ago, banks came into existence. Fifty years ago, computers were invented. Yet, in just five years banking has been transformed by the ubiquity of mobile devices. Today, clients expect banking transactions to be done in five seconds, so if we want to be around in the next 500 years, we have to meet that.
 
Consumers are spending a lot more time on mobile devices to socialise and run daily