“Radio Power will Revolutionize the World.” Modern Mechanix Publishing Co., Greenwich, Connecticut. July, 1934.
Digital transformation is transforming industries beyond recognition. Not only does the digital revolution simplify tasks but also makes them more transparent. Retail banking is one such sector where digitalization has immense potential. Especially as the conventional systems are getting outdated and the older workforce aware of the hardcoded methods is retiring, banks are under high pressure to digitalize their systems.
Although the greatest advantage of the traditional banking system has been the trust factor, consumers are increasingly shifting towards new players such as Google, Amazon, and Apple because of the convenience in transactions offered by them. Customer preference is also putting the retail banking under pressure to digitalize.
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API (Application Programming Interface) economy is impelling companies to secure the digital services and assets. Having API that is useful in providing solutions to the consumers is DevOps core goal. API economy is growing for its management platforms acting as an API request and protects the back ends of services from being brought down from too many breaches or queries. API platforms have a wide range available for many tailored solutions that cater to the specific needs.
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https://www.apacciooutlook.com/news/evolution-of-api-economy-nwid-6087.html
70 percent of digital transformation projects fail to reach their stated goals. This is often because these projects are built from bottom up. In order to successfully undergo digital transformation, there has to be a collaboration of minds that is led from the top and requires every member of the board to play a vital role in the process.
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The cornerstone of a well-set finance function within the future is a coordinated approach across all the existing elements
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