Banking Transformed with Jim Marous cover image

The Future of Banking: Beyond the Glass

Banking Transformed with Jim Marous

CHAPTER

Challenges and Strategies for Digital Transformation in Financial Institutions

The chapter explores the obstacles faced by traditional financial institutions in transitioning to a fully digital account opening experience, emphasizing the need to prioritize user-centric approaches and organizational restructuring. Discussions touch on engaging legacy employees to embrace digital advancements, implementing small incremental changes, and fostering an innovative culture. Additionally, it delves into the evolution of customer interaction models, the rise of embedded finance, and the importance of effective technology deployment to enhance customer experiences and drive revenue in the ever-changing banking landscape.

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