Apac
  • Home
  • CXO Insights
  • CIO Views
  • News
  • Conferences
  • Newsletter
  • Whitepapers
  • About us
Apac
  • Admired Tech

    Agile

    AI Healthcare

    Artificial Intelligence

    Augmented Reality

    Aviation

    Big Data

    Blockchain

    Cloud

    Cryptocurrency

    Cyber Security

    Digital Transformation

    Drone

    HPC

    Infrared

    Internet of Things

    Networking

    PropTech

    Remote Work

    Scheduling Software

    Simulation

    Startup

    Storage

    Wireless

  • Banking

    E-Commerce

    Education

    FinTech

    Food and Beverages

    Healthcare

    Insurance

    Legal

    Manufacturing

    Pharma and Life Science

    Retail

    Travel and Hospitality

  • CISCO

    Microsoft

    Oracle

    Salesforce

    SAP

    ServiceNow

  • Business Intelligence

    CEM

    Cloud-based Planning

    Cognitive

    Compliance

    Contact Center

    Contact Tracing

    Contactless Payments

    Corporate Finance

    CRM

    Custom Software Development

    Data Center

    Enterprise Architecture

    Enterprise Communications

    Enterprise Contract Management

    Field Service

    HR Technology

    IT Service Management

    Managed Services

    Procurement

    Product Management

    RegTech

    Revenue Management

Menu
    • CISCO
    • Collaboration
    • Compliance
    • Contact Center
    • Healthcare
    • IT Service Management
    • Microsoft
    • Retail
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • News
    • FinTech
    Editor's Pick (1 - 4 of 8)
    left
    IT Service Delivery Models Evolving with Business

    Todd Larson, CIO, Sentinel Benefits & Financial Group

    Managing Digital Transformation by IT and Security Teams

    Elena Kvochko, CIO-Group Security Function, Barclays

    Moving towards Banking and Fintech Partnership

    Peter Clark, Regional CIO, Standard Chartered Bank Technology and Operations, Hong Kong

    Technology and Business Conscience Collision

    Winston Benedict, CIO, Dentsu Aegis Network ANZ

    eMortgage, The Next Big Thing is Already Here: Make it Bigger

    Nafees Ahmed, CIO, Indiabulls

    Current Technology Issues/Trends

    Tim Thurman, CIO, Australian Securities Exchange (ASX)

    E-Mortgage, The Next Big Thing is already here: Make it Bigger

    Nafees Ahmed, CIO, Indiabulls

    Fintech 2.0: Revolutionising Southeast Asia Financial Services Ecosystem

    Hans De Back, Managing Partner, Finch Capital

    right

    Start-Ups Play a Major Role in Digital Transformation of Banks: An Infosys Finacle-Efma Research Report

    By apacciooutlook | Monday, December 03, 2018

    Tweet
    content-image

    BANGALORE, INDIA: Infosys Finacle-Efma Research unveils a latest report on the threat of technology on banks and finds 77 percent of them considering it as major threat. The research report of 158 banks from 56 countries finds 74 percent of the banks have embraced digitization in the current fiscal year compared to 37 percent in 2009.

    Key Findings of the Report

    Banks are collaborating with new start-ups (41 percent) to leverage latest technology and advance to digitalization. The report states that 73 percent of the banks consider innovative start-ups as the major foot-hill to access disruptive technology.

    The survey further finds legacy technologyas the major hurdle in transforming to digitalization. The proportion of banks accounting for innovation investment has reduced to 78 percent in the current fiscal year compared to 84 percent in 2015. The banks consider analytics and big data (79 percent) as the major technology for adopting digitalization followed by mobility and wearable (75 percent). The report further finds the demand for open payment systems will embark the growth of API technology in future.

    “Changing customer preferences, rapid evolution of technology and pressures from outside of the traditional banking world are accelerating a major transformation of the banking industry. The confluence of these forces is putting digitization at the center of technology renewal, enabling multi-channel touch-points for superior customer service. From the research findings and customer interactions, it will likely be the development of open API's, AI and blockchain that shall cause the next big change in banking," says Sanat Rao, Global Head of Infosys Finacle, EdgeVerve.

    tag

    Big Data

    Weekly Brief

    loading
    ON THE DECK

    Content Management System 2020

    Top Vendors

    Contactless Payments 2020

    Top Vendors

    Admired Tech 2020

    Top Vendors

    Previous Next

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Key Cybersecurity Challenges in 2021

    Key Cybersecurity Challenges in 2021

    Unleashing the Potential of ERP Systems

    Unleashing the Potential of ERP Systems

    Cloud-Based AR/VR Technologies Transform the Retail Sector

    Cloud-Based AR/VR Technologies Transform the Retail Sector

    How Credible is Cloud Storage Security?

    How Credible is Cloud Storage Security?

    How Internet of Medical Things Changing the Facets of Healthcare

    How Internet of Medical Things Changing the Facets of Healthcare

    IoT and the Challenges it Faces

    IoT and the Challenges it Faces

    Loading...

    Copyright © 2021 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy  |  Sitemap |  Subscribe

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/startups-play-a-major-role-in-digital-transformation-of-banks-an-infosys-finacleefma-research-report--nwid-3330.html