10 Trends Reshaping Banking in 2020
Ubiquitous digitization of our world is reshaping financial services like never before. Digital is disruptive, pervasive and transformative. It constantly challenges the status quo, has a ubiquitous impact on business and organization, and requires constant re-imagination of the business. With this pervasive digitization, the financial services industry faces the dual disruptive threats of disintermediation and commoditization.
The ten trends reshaping banking featured in Infosys Finacle’s 2020 report have been selected and curated to reflect the shifts across five areas – business model, agile organization, ubiquitous automation, technology modernization, and culture and workforce transformation. Drawing upon Infosys Finacle’s experience and opportunity to learn and shape banking, the report aims to inform your direction and help accelerate your digital journey.
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About Infosys Finacle
Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights–driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.
Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio than others.
To know more, visit www.finacle.com