8 Mar, 2022 | 3 min read

Is Your Bank Future-Ready?

  • Seshika Fernando
  • Vice President - Banking and Financial Services - WSO2

Photo by Kelly Sikkema on Unsplash

Your institution has probably already undergone the process of digitization—moving from analog data management to digital. It likely followed that up with digitalization, which Gartner describes as “the use of digital technologies to change a business model and provide new revenue and value-producing opportunities”.

To make the distinction clearer: You digitize mortgage statements. You digitalize mortgage approval.

If that sounds like your institution, then maybe you’re ready to tackle digital transformation, through which you build a new experience for your customers. 

Digital transformation is big, complex and your institution will never be done with it. And yet, it is past time to get started if you haven’t already. Don’t worry - you can learn from the experiences of other institutions that faced similar challenges.

Now that we’ve established the case for digital transformation, it is time to shift thinking from “why” to “how”. To know more about procedures for setting the foundation for a new digital target state, please download our e-book as a first step.

Photo by Kelly Sikkema.