Another example is artificial intelligence (AI) and robotic process automation (RPA). These technologies are changing how institutions deal with high volume, repetitive tasks while at the same time unlocking the capabilities of machine learning in areas such as customer service, personalization of interactions and predictive analytics. These form the special teams institutions need to keep the game progressing in their favor.
To win the championship game of digital banking, financial institutions must account for all key positions in their offensive and defensive lineups. If any of these positions are lacking, then they risk becoming irrelevant to consumers. Though competition can be steep, by strategically leveraging their key players and positions, banks and credit unions can ensure they are on the right side of the outcome.
Eric Brandt is the senior marketing specialist for D3 Banking Technology, provider of the industry’s most advanced digital banking platform.