Banks Becoming Truly Digital as Middle and Back Office Innovate

Most if the talk about banks going digital has been focused on the front end customer facing tools, there is also a sea change happening behind the scenes; banks are innovating across their tech stacks in order to accommodate people working from home; banks are starting to use centralized databases and moving almost entirely away from physical documents to accommodate the new normal; David Donovan, who heads the North America financial services practices at innovation consultancy Publicis Sapient, says to the FT “We’ve been saying forever that if you don’t convert to digital, you’re going to be out of business in a couple of years,” he says. Some banks knew that this was important, but “just didn’t feel urgency”, he adds. “What Covid has done is created the urgency because it’s made it pretty much obvious that they have no choice.”; banks have also started to increase their usage of AI chatbots, encryption and ID verification tools; banks are being forced to innovate all across the different areas of their businesses which will eventually make them better suited to work in a new digital world where not everyone will need to be in the same office. Financial Times

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.