Category
Instinctively, being a “progressive” bank looks more appealing than being called a “traditional” bank. That is why it would look like more traditional financial institutions want to change themselves into progressive ones.
Instinctively, being a “progressive” bank looks more appealing than being called a “traditional” bank. That is why it would look like more traditional financial institutions want to change themselves into progressive ones.
The lack of a single platform for all processes is an important reason why companies fail in digital transformation. Modern banks that want to transform their business should have loan management software to ensure success.
Survey showed: only 30% of companies succeeded in digital development. The remaining 70% of companies failed at digital transformation and received almost no return on their investments.
The pandemic caused a period of unprecedented turmoil and opportunity in the world around us. Markets including banking are changing faster in the past year than at any time before.
Lending is a complicated and time-consuming process. No matter the line of business or instance is considered. And all complicated things take effort and time, which is a valuable asset in business. It usually takes from three to five weeks for a traditional bank to make a loan decision. And up to three months to disburse cash to a client.
The majority of chiefs of global banks – about two-thirds to be more precise – suggest banking physical branches are going to extinct in the following 5-6 years.
Copyright © 2021 RNDPOINT LTD.
