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The Pandemic shows that digital transformation pays off
This article was originally published on Data Driven Investor.
The Pandemic crisis has created turmoil in the global economy and challenged the traditional ways of working and delivering value.
It has shown large financial institutions that digital transformation projects do pay off, they should be a continuous investment and that the “new normal” will be a continuous re-invention based on new tools and technologies in the market.
Innovation in a pandemic: Why incumbents have not gone Digital Only?
This article was originally published on FintechTalents.
Coronavirus has dialled up the urgency for digital-only banking. However don’t be fooled by the excitement, digital-only banking is starting to gain momentum, yes but it will take a few more years before we see a truly cashless world.
Blockchain and its potential in Finance
Blockchain seems to divide people like no other disruptive tool in the market.
The reality is that Blockchain has not reached the masses as expected but pilots and experiments keep popping up in different fields. For example, the increased investment by incumbent banks in the payments space using consortiums (co-partnerships) of Distributed Ledger Technologies.
Why Finance has lost the AI race
Although Artificial Intelligence is widely used in our daily lives, asking Alexa to research available flights, checking your app for daily commute estimation, etc. banking has only joined the race in recent years.
Reinventing Finance: How to make the Leap?
Finance teams must leverage digital tools such as Robotics, Machine Learning, Visualisation, Workflow and Cloud to ensure a smooth transition into the new role.