We outline the market outlook for digital banking transformation in the financial services industry — from investment trends and leading companies to recommendations for the players in the space.
What is digital banking transformation?
Digital banking transformation companies include omnichannel retail banking suites and multiproduct offerings that assist banks with digital transformations, from online opening and onboarding to customers’ mobile app experiences.
Features & capabilities
Digital banking transformation provides banking leaders with several capabilities, including:
- Flexible reporting and analytics tools
- Fraud prevention frameworks
- User-facing digital platforms
- Automated digital account opening platforms
- Instant messaging and emulation tools
Benefits
Digital banking transformation companies offer these substantial benefits to banking leaders:
- Increased funding rates
- Decreased fraud rates
- Decreased support volumes
- Increased new account application growth
- Increased deposit growth
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