Digitalization is all about the survival of the fittest and the digital banking landscape in the Central and Eastern Europe is witnessing a rapid transformation. The dawn of digital age presents its own challenges and complexities to banks in their day to day operations.
Challenges of ever evolving banking regulations such as the General Data Protection Regulation and the PSD 2, compel banks to leverage technology to a greater extent in delivering friction less and seamless customer experience whilst being compliant
Revised regulatory policies, advent of new technologies combined with shifting customer needs has fueled the growth of banking competitors. According to research, digital banking users are expected to reach nearly 3 billion by 2021. With fintech firms as well as big tech giants on the rise, traditional retail banking institutes will have to play catch up. The billion-dollar question here is who will survive in this race for digital supremacy?
