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In the face of ever-increasing digitisation and technological advancements, incumbent banks will need to “act now” to protect their advantages, if they want to remain relevant to consumers in the future, a consumer banking survey reveals.
As neobanks and digital challengers continue to advance and become increasingly more popular, incumbents must modernize their architecture by embracing cloud-native digital platforms, a new article by consulting firm Bain & Company and fintech provider Mambu says.