* This chart and data were pulled from the Digital Banking Ecosystem Report by Insider Intelligence. Purchase the report here for $495 to get immediate access to the full analysis. |
A wave of digital transformation is sweeping the banking industry, as incumbents shore up against consumer demand and competitive pressures. Digital transformation requires incumbents to spend billions of dollars to rip out and replace the technology stack from the front to the back office.
To digitally transform the tech stack, banks need to join forces with partners, enemies, and frenemies alike. Vendors will be key to the modernization of banks' IT, with specialists catering to each layer: 81% of banking executives surveyed by Finextra and the Euro Banking Association cited working with partners as the best strategy for achieving digital transformation goals. |
- Front Office. The front office is dedicated to a bank's customer-facing activities, and is the core focus of banks' digital transformations. Vendors include software providers, white-label fintechs, and personal finance management fintechs.
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- Middle Office. The middle office is responsible for compliance, risk, and corporate strategy functions. Vendors include...
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| This is just a preview of the information and insights you'll find in the Digital Banking Ecosystem report by Insider Intelligence. Purchase the report today for $495 to access the full analysis. |
