MAMBU
Rethinking rip and replace :
Why the future of digital transformation is incremental revolution
WRITTEN BY : ELLIOTT LIMB
CHIEF CUSTOMER OFFICER ,
MAMBU
Digital transformation is rarely out of the headlines nowadays . The pandemic has put pressure on businesses , across all sectors , to accelerate their digitisation plans – none more so than financial services .
This is because banking has much further to go on its transformation journey than other consumer sectors , and reflects a sudden , seismic shift in the way we manage our money .
But this heightened urgency isn ' t necessarily translating into the innovation consumers expect . So what ’ s holding banks back and how can they deliver on the promise of accelerated change ?
The speed of banking Traditional systems and mindsets have characterised banking for decades . Plagued by manual processes and legacy infrastructure , incumbent banks have been quickly leapfrogged by digital challengers .
Their one-size-fits-all approach may seem out of touch , but banks recognise they must evolve . The threat from digitally-enabled