LONDON, Jan. 09, 2019 (GLOBE NEWSWIRE) -- The digitalisation of the banking sector has long been a work in progress, but 2018 brought rapid acceleration and a new sense of urgency to the transformation. As more and more banks funnel larger sums of money into digital solutions, the number of physical branches around the world continues to shrink.
Across the board, banks are now racing to embody the modern institutions that consumers are demanding, all while making sense of new regulations and technologies. Only a select few have managed to come out on top, which we celebrate in the World Finance Digital Banking Awards 2018.
One of the biggest challenges for banks in 2018 was responding to a number of high-profile cyberattacks that have taken place over of late. As cyberthreats become more sophisticated and complex, bank security is not only threatened by new technologies, but also by the legacy infrastructure that many institutions still rely on.
However, new technologies, when implemented properly, can contribute to the development of banks into more agile and forward-thinking institutions. For instance, artificial intelligence is now used in a number of ways in the banking sector to increase efficiencies and cut costs. Experts are also experimenting with how distributed ledger technology can streamline operations.
Meanwhile, disruptive fintech companies and innovative challenger banks have given established institutions the push they need to rethink the way they have done business for decades.
As these changes transform the banking landscape, the World Finance Digital Banking Awards shines a spotlight on the companies that have risen up to embrace the future of banking.
To find out which institutions have made the cut, pick up the latest issue of World Finance, available online, on mobile and in print now.
World News Media is a leading publisher of quality financial and business magazines, which enjoys a global distribution network that includes subscriber lists of prominent decision-makers around the world.
CONTACT INFORMATION
World News Media
Elizabeth Matsangou
Editorial Department
+44 (0)20 7553 4162
elizabeth.matsangou@wnmedia.com