September 20176From the general perception of a wooden shack `community' bank in the middle of a desert, a primary target for pistol-wielding bandit horsemen, retail banks have come a long way. Big data, analytics, AI, and other buzzwords aside, retail banking has still transformed in terms of its operational models, range of services, and the delivery of those services. Technological advancements have been a significant enabler of this evolution. Currency digitization, process automation, and greater accessibility to financial account details have been the yardsticks to measure business sustainability up until now.It is interesting to note the rising influence of fintech startups in the advancement of retail banking technology solutions. These startups are cherry-picking banking services rapidly and helping banks keep up with relentlessly changing consumer expectations. The expectations range from ease-of-access to services online to on-site banking experiences; but in a nutshell, consumers expect commerce to be at the speed of light and like the comfort of their homes. Breakthroughs in cloud technology and cybersecurity have coaxed major banks around the world into welcoming virtualization, and the trend is slowly percolating downward and inward, helping streamline mission-critical backend functions as well. In the grand scheme of these developments, financial compliances and regulations continue to guide the efforts of retail banking CIOs and technology vendors, bringing a strong guiding hand that fosters innovation, yet enhances accountability and safety at the same time. Consumer omnichannel experiences and digital banking has seen some significant developments to this end, and are likely to prevail as the focus areas of 2017.Banking CIO Outlook has identified the key players and the trends to look out for in the retail banking space in this edition. Kindly let us know your thoughts.Copyright © 2017 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.SEPTEMBER - 25 - 2017Editorial StaffSalesT:510.480.3052RETAIL BANKING SPECIALCatherine Paul catherine@bankingciooutlook.comVisualizerIssac GeorgeManaging EditorJames RobertsonThe Tale of Transformation James RobertsonManaging Editor editor@bankingciooutlook.comCarolynn WaltersJustin SmithKyle SummersEditorialEileen SinghKenneth ThomasRussell Thomas*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff SEPTEMBER - 25 - 2017, Volume 03 - 05 Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Phone:510.402.1463,Fax:510-894-8405sales@bankingciooutlook.comeditor@bankingciooutlook.commarketing@bankingciooutlook.comContact Us:Email:
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