November 20186Digitization and disruptive technologies are transforming the financial sector by accelerating the resolution of some of the industry's biggest challenges--the ever-evolving customer demands and constant regulatory pressure. Automation is becoming vital for financial firms with its potential to change the paradigm of conventional banking. Today, retail banking entities are deploying technologies to enhance the efficiency of their customer and client engagement strategies. Further, one of the crucial goals for banks is to establish a customer-centric model by focusing on the emerging industry trends and seeking out novel approaches to implementing those. In addition, banks are automating their operations and transitioning their infrastructure to the cloud to provide a superior customer experience journey. Many regulations and open-banking initiatives that are aimed at promoting innovation are also becoming prominent across the U.S.With banks striving to accelerate revenue generation, reduce costs, and deliver enhanced customer experiences, investments into the implementation of technologies such as blockchain, AI, IoT, and machine learning has seen a steady increase. The incorporation of AI has resulted in the creation and sustenance of better customer relationships, effective risk assessment, and easier cross-sector collaborations with tech companies. Additionally, blockchain's decentralized structure is enabling banks to efficiently manage customer identities, contracts, and payment transactions. Lastly, advancements like IoT are revolutionizing retail banking by introducing wearable banking solutions such as smart watches and glasses that offer a detailed view of customer behavior, connected cars with integrated wealth management applications, and blockchain-based smart contracts.As innovative technologies transform the retail banking sector into a smarter industry, the significance of an experienced third-party solution provider in catalyzing the transition becomes apparent. At this junction, Banking CIO Outlook presents its Retail Banking edition featuring insights from industry thought leaders and solutions from innovative technology providers. We hope this edition is helpful in preparing you for the challenges of tomorrow.Let us know 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 - 21 - 2018Contact Us:phone:510.402.1463Fax:510-894-8405Email:sales@bankingciooutlook.comeditor@bankingciooutlook.commarketing@bankingciooutlook.com NOVEMBER - 21 - 2018, Volume 04 - 08 Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesT:510.402.1464RETAIL BANKING SPECIALBen Anthonyben@cioreview.comVisualizerSujay KIssac GeorgeManaging EditorJames RobertsonRevolutionizing the Future of Retail BankingJames RobertsonManaging Editor editor@bankingciooutlook.comShiv ShankerCarolynn WaltersJustin SmithEditorialJoseph MichaelKenneth ThomasRussell Thomas*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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