Technology continues to drive innovation within the banking sector as institutions seek to augment capabilities and leverage next-generation solutions to enable improved client experience and more efficient operations. With the ubiquitous use of digital banking services, automation of key functions and application of emerging technologies such as artificial intelligence, blockchain, cloud computing and robotics the banking sector remains on a consistent and upward trajectory of accelerated modernisation.
The institutional response to these changing market dynamics and unlocking new growth opportunities has necessitated solution providers to focus on initiatives centred across the institution but with a particular emphasis around retail banking technology breakthroughs be it at the front or back office.
The Digital Banker has its own proprietary assessment framework for evaluating the best-in-class entries for the Global BankTech Awards 2023 program. The key criteria encapsulate Innovation, Coverage, Effectiveness and Scalability. Certainly, technology companies, solution providers and vendors are developing superior platforms, architecture and models to help institutions realise productivity gains and accelerate their transformation journeys.
From large enterprise-wide banking engagement platforms to smaller niche players offering targeted solutions, the range and depth of BankTech companies is relative to their ability in quickly identifying the business and technical challenges involved reinforced by robust project implementation that successfully augments banking capabilities.