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Navigating Banking's Tech Revolution
This chapter explores the technological challenges faced by the banking sector, especially the issues stemming from outdated mainframe systems. It emphasizes the advantages of transitioning to an API-based infrastructure, which facilitates flexibility and cost-effectiveness while discussing the strategic shift of a financial technology company in serving various client segments. Additionally, it highlights the cultural and operational challenges of adopting modern technologies, particularly in integrating AI for enhanced risk detection and customer service.