ACCELERATING DIGITAL ACROSS RETAIL, CORPORATE AND INVESTMENT BANKING
ACCELERATING DIGITAL ACROSS RETAIL, CORPORATE AND INVESTMENT BANKING
The rapid evolution of customer behaviours, needs, and expectations have helped drive innovation in banking, but even so, it has placed unprecedented demand on banks’ technology capabilities and infrastructures.
The need for banks to evolve their digital offering is accelerating, posing a double challenge. In order to harness the power of technology in a more human-centric way, banks must balance the need to create capacity within existing digital channels with the long-term objective of re-engineering the foundations of their businesses to enable agility and sustainability.
Traditional business models are coming under pressure from non-traditional challengers exploiting gaps in conventional offerings by providing alternative and more adaptable banking services. This trend is set to continue, with trusted, value-based brands entering the market and contributing to the disintermediation of the banking sector. As a result, larger organisations may need to consider mutualising cost-intensive, low-return activities and accept their role as utility providers within a disintermediated marketplace.
At Endava, we have a wealth of experience across the banking sector, working with clients to combine next-generation technologies with product and technology strategies, intelligent experiences, and world class engineering capabilities.