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13 Feb 2024

Everything Everywhere All at Once: Traditional Banks Accelerate Digital Transformation

Spokesperson : Mohan Madurakavi
Everything Everywhere All at Once: Traditional Banks Accelerate Digital Transformation

In this article for Fintech Nexus, Mohan Madhurakavi,  Chief Evangelist at Kissflow, pens down his opinions on how traditional banks are accelerating digital transformation with emerging technologies like artificial intelligence (AI), machine learning (ML), and automation. 

"An ironic reality for traditional banks is that not all are flush with cash, and it’s often tough to compete with the salaries and benefits that fintech firms offer top tech talent, leading to a glut in resources capable of these digital upgrades. Rather than exhaust budgets hiring these workers, banks are instead turning to LCNC development platforms that enable teams to build applications with minimal coding requirements, thereby accelerating development and reducing costs. These platforms provide visual interfaces, pre-built templates, and drag-and-drop functionalities, allowing both technical and non-technical stakeholders to quickly create custom applications, streamline internal processes, and deliver innovative customer experiences."

Read the full article here


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