5 Lessons from Banking Transformation Journey
Key Takeaways
Global know-how for CEE
Modernisation journey
In the rapidly evolving banking sector, institutions in Central and Eastern Europe are navigating the transition from legacy banking systems to modern technologies.
Global know-how, local approach
Our experience in guiding banks through digital transformations in Europe (including CEE), Americas and Asia-Pacific, coupled with our technological capabilities, has provided us with comprehensive insights and strategies for this journey. GFT offers an end-to-end approach, combining both strategic consultancy and cutting-edge technological services.
Learn from the Experts
This paper contains 5 project-proven insights from comprehensive modernization of crucial banking systems, drawing from our work for clients in Central Europe and globally.
FAQ: Banking Transformation
What are the biggest challenges in banking digital transformation?
The biggest challenges in banking digital transformation are legacy core systems, rising customer experience expectations, regulatory complexity, and cultural resistance. These factors slow innovation and make it difficult for banks to compete with digital-first players.
Legacy systems limit flexibility and integration with fintech solutions, while evolving regulations require continuous adaptation. At the same time, customers expect seamless, personalized digital experiences, putting pressure on outdated platforms. Internal resistance and lack of digital skills can further delay transformation initiatives.
To explore how leading banks overcome these challenges, download the full Thought Leadership.
Why is customer-centricity critical in digital banking transformation?
Customer-centricity is critical because it directly drives adoption, satisfaction, and long-term loyalty in digital banking. Banks must design services around real user needs, behaviors, and contexts.
Effective UX design goes beyond interface usability to include process flow, personalization, and adaptability across different situations - such as mobile banking on the go versus detailed financial planning at home. Understanding local market behaviors and customer expectations is essential to delivering relevant services that differentiate a bank in a competitive landscape.
To see how this principle translates into real-world banking success, download the full guide.
How do cloud and scalable technologies enable banking transformation?
Cloud and scalable technologies enable banking transformation by allowing institutions to quickly adapt to changing customer demands, integrate new technologies, and scale operations efficiently.
Cloud environments support faster deployment, real-time processing, and integration with emerging technologies like AI. A multicloud strategy also reduces vendor lock-in and improves resilience. This flexibility allows banks to innovate faster, respond to regulatory changes, and deliver new digital products without major infrastructure constraints.
For practical examples of cloud-driven transformation, download the full Thought Leadership.
