Digital transformation in the banking sector is essential but comes with significant challenges as institutions navigate an increasingly competitive and fast-paced environment. One of the most complex tasks is simplifying products and policies, often hindered by longstanding bureaucratic processes and regulatory requirements.

Banks must strike a delicate balance between maintaining compliance and meeting customer demands for transparency, which can slow down transformation efforts. Several scenarios may prompt a bank to consider changing its core banking system. Recognising these scenarios is crucial for guiding institutions through the decision-making process effectively.

Download ERI's latest white paper to find out more about the role of modern technology in a successful digital transformation journey by clicking the image below.