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Digital transformation – There is no excuse for businesses

Everyone wants to go digital. We know that digital is the future of everything. But which way do we go and what is standing in our way?

In recent research studies by the Digital Banking Report, it is becoming increasingly clear that the majority of financial institutions know they must become digital organisations. These same organisations also are aware of what it will take to move forward … but are at a standstill when it comes to progress.

Jim Marous, Co-Publisher of The Financial Brand and Owner/Publisher of the Digital Banking Report, recently published some of the excuses they often hear, and why they are no longer valid.

Excuses include:

  1. “This is the way we’ve always done business.”
  2. “We don’t have the talent or skill sets.”
  3. “Our customers/members aren’t complaining.”
  4. “There is increased risk with digital transformation.”
  5. “It costs too much.”

“It’s time to let go of the past and embrace the future. As daunting as digital transformation can look, moving forward immediately is essential for any bank or credit union that wants to remain competitive, especially in a marketplace where customer experience is becoming the differentiator”, Marous shared.

Click here to read more about the expectations for digital experiences.

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