Can disruptive technologies bolster the competitiveness of North American Banks?
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North American banks are turning to new technologies, to modernize and secure their core infrastructure and processes, while competing with non-traditional players. Download the new report from the Economist, commissioned by Temenos.
- North America respondents are even more convinced than other regions that digital technologies like generative AI, cloud and microservices, will have the biggest impact on banks in the next five years – 90% compared to 63% globally.
- Product agility and enabling embedded finance are the bigger strategic priorities for North American banks in the next five years.
- In order to best utilize emerging technologies and handle the exponential growth of data, banks are moving applications to the cloud. Banks in North America are prioritizing moving domestic core banking more so than other regions.
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Key stats:
90%
believe that technology will have the biggest impact on banks
42%
see their business model evolving to act as a true digital ecosystem
79%
believe that banking will become embedded
Byte-sized banking: Can banks create a true ecosystem with embedded finance?
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