| | April 20166CIOReviewCopyright © 2016 CIOReview. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewAPRIL - 04 - 2016Managing EditorJeevan GeorgeEditorial StaffAaron PierceAishwarya KannanAlex D'SouzaAva GarciaJenna Vegas Joshua Parker T:510.565.7559 VisualizersStephen ThomasManjith FernandezBANKING TECHNOLOGY SPECIALCIOReviewSalesSebastian Jacob sebastian@cioreview.comMailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 APRIL - 04 - 2016, Vol 05 SE 19 Published by CIOReview To subscribe to CIOReviewVisit www.cioreview.com Digital transformation is hitting the core of banking industry today. While technology may have been a little slow to cause a disruption in the banking sector compared to other industries, the business models of banks are now changing. Amid the wave of fintech startups, digital challengers, and tech giants presenting a threat--notwithstanding the growing security concerns--banks are investing in innovative technologies to stay afloat. Blockchain, for instance, is primed to take the center stage this year.Having generated huge interest in 2015, blockchain technology is likely to be a major disruptive force in finance. Many banks are already investigating how they can utilize blockchain applications within their business--Bank of America is going big by attempting to patent some of the use cases of blockchain. Since the blockchain ledger is distributed across thousands of computers globally, it increases the security and reduces the maintenance requirements for banks. While this crypto technology might take some years before becoming mainstream among banks, the institutions are taking a collaborative approach by working with startups and even rival banks to accelerate the progress.This is just the beginning. The ramp up in cybersecurity efforts is being driven by the explosion of internet connected devices and consumer data. The finance sector is on road to reap the benefits of the Internet of Things (IoT). The rendezvous of IoT and finance will push banks to devise novel approaches to monetize the use of all the data being accumulated--an exciting new challenge on the horizon. As technology continues to change the paradigm of the banking ecosystem, banks that leverage the latest trends, like wearable apps and data analytics, to deliver a better end-user experience will stand out. With several advanced solutions in the market that can simplify banking operations, CIOReview showcases the best among those in its annual edition on Banking Technology, featuring valuable insights from industry thought leaders. We hope this special edition will be an asset in your endeavors to revamp the technologies currently deployed in your organization.Jeevan GeorgeManaging Editoreditor@cioreview.comChange on the CardsEditorial
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