Modern banking has become synonymous with the modernization of legacy systems. To continuously improve customer experiences, banks must break down monolithic, institutionalized processes and create a culture that spawns innovation from anywhere. But while 90% of banks are already on their path of transforming to be more digital, only 8% are considered disruptors due to their high levels of digital adoption.

Only the largest global banks have the internal capabilities necessary to build and deploy an open API ecosystem. Many will have to rely on technology partners to fill the skills gap.