From cloud-based core banking to customer analytics, this MVP Technology Framework evaluates the tech solutions that established retail banks like Bank of America and Wells Fargo are using to digitize their core infrastructure and revamp their services.
The retail banking industry has changed dramatically in the last few years. Consumer expectations are shifting — and mobile-first challenger banks and personal finance platforms are stepping up to meet them.
By offering simple, customizable banking experiences, these platforms are encroaching on banking incumbents’ territory and quickly gaining market share.
In response, incumbent retail banks are digitizing their core services.
From cloud-based banking to customer analytics to virtual assistants, top banks are leveraging new tech solutions to meet evolving customer needs and maintain a competitive edge.
This report evaluates 8 tech markets that retail banking leaders should monitor, vet, and prioritize.