Retail banking digital transformation is happening
Retail banking digital transformation is happening
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IoT and data analytics have been applied in numerous ways throughout FinTech , as well as usage in InsurTech ( IoT wearables for health insurance purposes ) and RegTech ( data analytics to detect fraud ), but it is arguably cloud that has distinguished itself as among the top tech enablers of the last 10 years .
“ The cloud has provided us nearinfinite computing power ,” Rosner continues . “ The quality , variety and velocity of data being controlled in one location has enabled all kinds of advanced technologies like VR
( virtual reality ), NLP ( natural language processing ) and more . It ’ s truly very powerful .”
Right now , it seems that there is a hunger in the finance industry for ‘ everything digital ’, but this isn ’ t to say that companies are only focused on strictly technology-based solutions like the cloud . On the contrary , Rosner states that cultural changes and shifts in operational philosophy have come to define the contemporary approach to digital transformation in equal proportion .
“ The notion of open partnership ecosystems has been growing over
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