Digital-only banks continue to drive innovation and change in the banking industry through the application of emerging technologies and frameworks. Successful pure-play lenders have deployed unique solutions, undertaken differentiated initiatives and service enhancements, in response to increasingly demanding customers that are seeking convenience and value-driven banking services. Various players are looking to tackle some of the unique challenges and opportunities that have presented themselves going forward.
Moreover, digital banks have adopted technology architecture that is digitally native leveraging next-generation core banking systems that has considerably reduced innovation roadmaps and enabled new product launches within days. Likewise, using cloud-native solutions, event-driven architecture and advanced analytics has contributed to an operating model that is based on self-service, driven by intelligent automation and resulting in deep personalisation.
The Digital Banker has its own proprietary assessment framework for evaluating the best-in-class digital banks. The key criteria encapsulate Innovation, Customer Experience, Financial & Market Performance and Strategy. Certainly, the best digital banks provide anywhere anytime banking on-the-go banking facilities with a customer centric approach.
