Digital Banking Awards 2020 | Finance World | TBA

As technology transforms banking, digitalisation has created as many challenges as opportunities. The institutions that have managed to negate these problems have continued to thrive in this space
Technology’s steady march into nearly every aspect of our lives has brought sweeping changes to the way companies are created and run. The digitalisation of the banking sector in particular has been widespread, and has accelerated noticeably in recent years.

In fact, nearly 2,900 physical bank branches have closed in the UK alone over the past three years, as more customers turn to online banking instead. In the US, meanwhile, the number of brick-and-mortar bank branches dropped by more than 1,700 in the 12 months to June 2017, the biggest decline on record.

But breaking from tradition to adopt modern practices is no easy task: banks must grapple with new regulations while attempting to update legacy systems and integrate new, often disruptive technologies. What’s more, consumers are increasingly demanding: they expect their banks to provide a convenient and flexible service that seamlessly incorporates the latest developments.

The World Finance Digital Banking Awards 2018 celebrate the organisations that are successfully tackling the industry’s challenges and driving the digital revolution with dynamic business strategies and groundbreaking technologies.