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The Most Effective Way Businesses can get Maximum Value from Banking Technology

There is a missing link in the evolution of banking, and it impacts how much value businesses get from banking technology. The antiquated, process- and infrastructure-heavy banking propositions still offered by incumbent banks are being challenged by the futuristic, digital-only models promoted by soon-to-be neo-banks. The former continue to serve an increasingly disillusioned customer base that historically had no alternative, while the latter are preparing to stake claims for the millennial generation. The new developments are great for retail customers, but how can banking work for businesses?

Why Should Retail Bank Customers Care About Technology?

It’s all about tech these days, and it will continue to be for years to come. Moore’s law and cloud-based storage and processing capabilities combine to give mobile devices enormous power and to support cheap, scalable technologies. Historically, technology was capital intensive, giving large companies with access to extensive financial resources defensible advantages in the development and delivery of high tech solutions.