Radical transformation in financial services: Creating tomorrow’s financial institution through new business models
Financial institutions should consider rapidly transforming business models in ways that are cognitive and digital. These transformations should include:
Developing alternative revenue sources (using marketplace banking strategies and cognitive technologies)
Streamlining costs by:
- Advancing digitization initiatives optimized across the enterprise
- Creating an efficient, flexible IT infrastructure based on micro-services and open APIs
- Using cloud models to streamline costs and enable scalable growth