DIGITAL

TRANSFORMATION
IN BANKING

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CHANGE HAPPENS
FASTER THAN
BUSINESSES ADAPT
While more than half of executives rate their own digital IQ as strong… …only 5% of businesses feel they have
achieved any real differentiation through digital.

The #1 reason more than half of the Fortune 500 have disappeared since the year 2000: failure to achieve digital
change.

30%+higher profit among companies undertaking digital transformation than their industry peers

45% share of market leaders expected to fall out of the top 10 in their industries due to digital disruption over the
next 5 years

Sources: Global Center for Digital Business Transformation; June 2015. CapGemini Consulting & MIT Sloan School of Management, The Digital Advantage, 2014. State of Digital 2
Transformation, Altimeter 2016; Digital Transformation In The Age Of The Customer, Forrester / Accenture
There is confusion over the terms, Digitization, Digitalization & Digital Transformation.
These terms are often used interchangeably when their actual meanings are totally
different. In fact, they point very different ways of responding to disruptive technology.

Digitization: is to convert analog data into digital form. If you scan physical papers into
electronic files, convert typewritten text into a digital form, switched from cassette tapes
to MP3 files, or moved from old style camera film to digital photos, then you have
digitized your data..

Digitalization: refers to enabling, improving or transforming business process by

leveraging digital technologies (e.g., APIs) and digitized data.
It is the use of digital technologies to change a business process and provide new
revenue, save cost and value-producing opportunities.

Digital Transformation: is the process of changing existing business models with new
digital technologies like APIs, Analytics, Mobility, etc. It goes deeper, creating new
strategies and processes which lead to a new and better way of providing value for your
customers, doing things faster, easier, and smoother. An example of this is moving from
snail mail to real-time social media or chatbots.

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DIGITAL
TRANSFORMATION
Digital Transformation is far beyond just moving from traditional banking to a digital world. It is a vital change in how banks and other
financial institutions learn about, interact with and satisfy customers. An efficacious Digital Transformation begins with an understanding
of digital customer behavior, preferences, choices, likes, dislikes, stated as well as unstated needs, aspirations etc.. And this
transformation leads to the major changes in the organizations, from product-centric to customer-centric view.

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BANKING
IN THE
DIGITAL ERA

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BANKING IN THE
DIGITAL ERA
An increasing part of the population acts digitally

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BANKING IN THE
DIGITAL ERA
The creation of new business models, enabled by new technologies

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BANKING IN THE
DIGITAL ERA
A new paradigm enabled by new technologies and non-traditional competitors

FinTechs entered all parts of the industry with their technology-based business models

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ABOUT
US
PiServe is a leader in Automation, Application Development/Support,
Infrastructure Management Services and Cloud.

We leverage our experience, knowledge and services to help build trust

and confidence in the capital markets and in economies all over the
world.

Develop, deploy, and maintain quality IT systems become infeasible in

terms of efficacy and cost-effectiveness, choosing the right IT partner
can be a game-changer. PiServe has proven expertise and experience
to provide you the right IT solution for the right purpose at the right time.

For more information, please visit www.PiServe.com.