It is increasingly becoming apparent through time that banks are collaborating with fintechs and investing in digital transformation to advance their customer service and know-how, while expanding to new markets so as to stay competitive within the fast evolving marketplace.
According to Deloitte’s report the '2018 Banking Industry Outlook', the future of retail banking for 2018 is expected to include a customer centric approach, the adoption of cutting-edge technologies, regulatory compliance and above all alliances with fintechs. Based on the survey’s findings, the main objective for banks to become agile, achieve significant cost efficiencies and differentiate from competition is to focus on modern technologies and innovation.
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