Exponential banking is a natural evolution of increasingly rapid digitalisation in the financial services industry, and is itself powered by the exponential growth in technology over the past half-century. This technological growth is embodied by Moore’s Law, but while the initial application of Moore’s Law was primarily concerned with the size and power of hardware, it has now evolved to include mobile computing, the cloud, artificial intelligence, the Internet of Things, augmented and virtual reality, and other fields in which more and more information is available for processing at greater and greater speeds.

This is the arena in which banks can most broadly benefit from exponential technologies – delivering more personalised and more customised products and services to more customers (and prospective customers) at the most appropriate time with the least time lag between concept and availability.

At GFT we have identified four different pillars that will help financial institutions to move towards exponential banking: augmented banking | open banking | cognitive banking | automation banking

Exponential technologies in financial services

This infographic presents the four pillars supporting the exponential banking vision: augmented banking, open banking, cognitive banking and automation banking. It also outlines the main characteristics of the three choices that exist for financial institutions embarking on a digital transformation path. Click on the image to access the full infographic.

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