The report looks at how niche markets push banks to innovate – to go beyond supporting basic and necessary banking transactions – on the same digital banking platform
CR2’s latest market insight report, ‘Adopt an Agile Digital Banking Platform’ has been written in collaboration with Stessa Cohen, an internationally recognised expert on the digital transformation of the global banking industry.
In the report, Stessa identifies how bankers must have an agile digital banking platform to support global and local trends and requirements, helping them to identify new niche markets that will drive innovation, create new value and increase profitability. The report identifies a set of capabilities that a digital banking platform must have that will help take banks into a competitive future and urges banks to select a digital banking partner who shares their innovation, vision and support for new value creation.
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The report looks at how niche markets push banks to innovate – to go beyond supporting basic and necessary banking transactions – on the same digital banking platform. By understanding customers in new ways, banks can leverage the appropriate global and local technology trends to attract new customers and increase profitability. If not, competitors, challenger banks and fintechs will quickly step into the bank’s targeted niche markets.
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Stessa discusses how, banks need not only a digital banking platform that is ready for customisation, integration and identification of new markets, but also a vendor partner that can provide the development and banking expertise that the bank may not have. Digital banking platform vendors, such as CR2, who support these capabilities do more than deliver banking and payments transactions. They create a path for the bank to create new value – for both the bank and customers.
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