IT has completely redefined the banking industry over the last 50 years and fundamentally changed how the work of banking is done. From the convenience of the introduction of ATM’s and credit cards, Stanford Federal Credit Union offering internet banking services in the 1990’s and now mobile banking and payments, which among other achievements has helped bridge the divide in Africa of the unbanked. In the US over 50% of smart phone users utilize their phones as their primary interaction with their banks.
Not only is IT changing the frequency with which consumers go to their banks physical location but when they do attend their bank, in person, IT is also having a massive impact on the overall banking experience. Banking branch automation is a rapidly developing area that will come into its own over the next decade.
International Banker will be highlighting the key players leading the technological revolution in the banking industry. The Banking IT Awards 2016 will focus on the companies that combine innovation, ingenuity, flexibility, security, practicality and cost effectiveness to enhance the service and product offerings of the banking industry to their customers, as well as dealing with the issues faced by increased regulation.