How Digital Transformation is reshaping Banking.pptx

The banking sector is undergoing a significant transformation in today's rapidly evolving digital landscape. New technologies and the increasing demand for convenient, efficient, and secure financial services have driven banks to innovate and adapt. A few years ago, Umeed Kothavala, Extentia's Chief Experience Officer, demystified the concept of digital transformation and provided insights on what digital transformation could mean for businesses in the future. To reinforce his viewpoint and share more details about the impact of digital transformation on the banking sector, we at Extentia Merkle have decided to create a blog post series that we can all refer to.

Extentia, a Merkle Company, is a global technology and services firm that helps clients transform and realize their digital strategies. With a unique Experience Centric Transformation approach, our ground-breaking solutions are in the space of mobile, cloud, and design. Our team is differentiated by an emphasis on excellent design skills that they bring to every project. Focused on enterprise mobility, cloud computing, and user experiences, we strive to accomplish and surpass their customers’ business goals. Our inclusive work environment and culture inspire team members to be innovative and creative and to provide clients with an exceptional partnership experience.

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1. How Digital Transformation is reshaping Banking

2. Digital Transformation for Banking Digital transformation in banking involves incorporating advanced technologies into every aspect of banking operations and services, moving beyond traditional methods The primary goals are to enhance customer experiences by providing more convenient and personalized services, streamline internal processes for greater efficiency, and improve overall security in banking transactions and operations

3. Key Components of Digital Transformation in Banking

4. The BFSI sector led the market with 27.6% revenue in 2023, driven by a focus on enhancing customer experiences Global digital transformation in the BFSI market was valued at USD 68.2 billion in 2022 and is projected to reach USD 310.6 billion by 2031, with a CAGR of 16.6% The prime market drivers for this growth are the increased use of AI, IT services, mobile devices, and online platforms by banks and fintech companies BFSI and Digital Transformation - Market Overview

5. Evolution of Digital Banking

6. Thank You! Write to us at inquiries.extentia.com to learn more More about Extentia’s offerings at www.extentia.com