New Digital Technologies Will Disrupt Banking Forever

The next wave of digital technologies include artificial intelligence (AI), blockchain, the internet of things (IoT), open banking APIs and robotic process automation (RPA). These will impact the banking ecosystem more than any previous transformation, potentially disrupting not only the way people bank, but the organizations that deliver tfinancial services. Over the past several years, digital technologies have changed the once staid banking industry. The collection and advanced analysis of data has changed the way customers are viewed, and the introduction of mobile devices has altered the way consumers access their bank. In short, digital transformation is on the front burner of all banks and credit unions.