November 20186The changing customer behavior has affected a number of sectors, and the banking industry is no different. Today's customers are way different from the past, they are well-informed, more demanding, and want the same seamless experience in the banking process which they have while shopping online, ordering food, or hiring a cab. Also, the emergence of the digital age has thrown a set of new challenges and complexities to the banks. Regulations like General Data Protection Regulation (GDPR) and the Revised Payment Service Directive (PSD2) enforce banks to leverage technology to deliver flawless customer experience while complying with the federal and state regulations.This gradual shift has made banks more open towards investing in emerging channels, like online, mobile, and social media to enhance and maintain customer satisfaction. They are also exploring different advanced technologies, such as blockchain, AI, Big Data, Cyber Security, extended reality (XR), microservices, and many more, to enhance their processes. For example, AI in banking is like a boon because mostly when customers need banks, they are not open, like on weekends and holidays, or later in the evening. But when money does not sleep, how can banks. So there comes the role of AI because these chatbots and conversational assistants are the ones that are always there for the customer support. On the other hand, big data is helping banks in reducing the number of risks by enabling them to monitor their client's transaction behaviors in real time. This kind of real-time evaluation also helps in boosting the overall profitability of the industry. Similarly, XR technologies that include VR, AR, and mixed reality (MR) have the inbuilt potential to lead to more meaningful customer engagements and improved workforce performance.Our goal with this special edition is to highlight the best-of-breed banking tech companies that leverage innovative technologies to drive customer success. This edition also blends thought leadership from subject matter experts with real stories on what selected vendors are doing for their clients, including exclusive insights from CIOs and CXOs.Write us your thoughts.Copyright © 2018 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.NOVEMBER - 06 - 2018Contact Us:Phone:510-556-2284Fax:510-894-8405Email:sales@bankingciooutlook.comeditor@bankingciooutlook.commarketing@bankingciooutlook.com NOVEMBER - 06 - 2018, Volume 04 - 07 Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesBANKING TECH EUROPE SPECIALJennifer Stephenjennifer.stephen@bankingciooutlook.comVisualizerAjay K DasIssac GeorgeManaging EditorJames RobertsonDriving Customer-Centric Banking James RobertsonManaging Editor editor@bankingciooutlook.comDivya Kishore Justin SmithJoseph MichaelEditorialKenneth ThomasKhyati DubalRussell Thomas*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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