Most financial institution executives agree that the purpose of a digital banking transformation strategy is to leverage technology and improved processes to deliver an exceptional user experience. Optimally, the end-users would include both customers and employees, with the interests of both internal and external constituencies being considered in the development and deployment of the digital banking transformation roadmap. Optimztive worked closely with a leading Australian bank to help it transform digital and serve customers better using our digital transformation program

What most banks and credit unions often do not understand, however, is that digital banking transformation does not have an endpoint, since the process is evolutionary, with new technologies, processes, consumer expectations, and competition impacting what is required to succeed. According to the MIT Sloan Management Review, “Digital transformation is the continual adaptation to a constantly changing environment.”

Despite an overwhelming awareness of the importance of becoming a more digitally adept organization, the ability to act on this awareness continues to be a challenge for most financial institutions. Beyond the investment in, and the deployment of, digital technologies, financial institutions must have the leadership and culture to enable organizational change.

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