In an article published by Paperjam, Ananda Kautz, Head of Innovation, Payments & Digital at ABBL, looks at the digital transformation of banking players and their collaboration with fintechs. Here are the key points.
- Faced with an increasingly burdensome and costly regulatory load, banking players have no choice but to accelerate their digital transformation as an efficiency lever. By working with fintechs, banks can optimise certain processes or improve the customer experience.
- The ABBL enables banks and fintechs to work together in new ways.
- While regulations apply more or less uniformly to all players, there is a real interest in developing mutualised solutions at the market level. The ABBL is therefore involved in research and development projects in collaboration with the SnT.
- Banks are increasing their maturity in the usage of cloud solutions as it offers access to innovative solutions and to increase agility.
- Attracting new profiles and developing skills are important priorities for ABBL members who are developing a strong culture of innovation.
- Transformation must also take place within a limited budgetary framework, and is subject to constant trade-offs and arbitration.
Interested in joining our initiatives? Contact our ABBL Member Relations team.