Many banks make the error of attempting several independent digital efforts, which fail because they lack the support or coordination necessary to compete with digital-native solutions. Instead, a top-down strategy incorporating digital systems, customer experience platforms, apps, and infrastructure is required for banking's digital transformation.

Businesses must accurately identify and manage the risks related to the digital transformation of their operations, particularly those related to cybersecurity, data leakage, and illegal access to data. Therefore, it is essential to completely overhaul the IT infrastructure and present business processes before creating a step-by-step plan for digital transformation.

Read Cigniti’s blog to learn more about accelerating the banking transformation with digital assurance - https://bit.ly/3yPImW2

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