| | SEPTEMBER 20196CIOReviewThe importance of technology has never been higher in the financial services sector. Competition from fintech firms and increased customer expectations require banks to leverage new technologies in order to remain competitive in the marketplace. Today, consumers want recommendations from banking institutions about what they should buy when they are shopping for a financial product or service. With artificial intelligence, banks have the potential to transform customer experiences and establish entirely new business models. Banking teams need to leverage technology to provide a personalized experience tailored to each customer need. Voice assistants further augment customer experience, and most financial organizations are moving from basic dialogue and account inquiries to authorizing transactions using voice commands. The integration of voice with the power of AI and voice is leading the way from mobile banking to conversational banking. With the increasing use of technology and digital channels, the banking industry has become more susceptible to cyber-attacks. Now more than ever, banks must become proactive in their data protection and cybersecurity risk management practices. However, consumers want ease-of-use, along with enhanced data and identity protection. As a result, the banking industry has responded with implementing multi-factor authentication, secure applications, digital signature, and other forms of security. The focus on security has also led financial institutions to leverage blockchain technology, particularly at larger organizations. For the most part, the focus of blockchain implementation has been around reducing costs and simplifying processes such as payments and remittances. Cloud-based core banking is also becoming mainstream, and much of this momentum is because banks that rely on legacy infrastructure cannot compete against digital competitors. The only way to keep up is to implement cloud technology to automate operations and workflows, resulting in increased efficiency, security, and cost savings. To stay competitive, banks are investing significant amounts into technology to digitize their businesses. With several advanced solutions in the market that can simplify banking operations, CIOReview showcases the best among those in its special edition on banking technology, featuring valuable insights from industry thought leaders. Let us know your thoughts! EditorialReshaping Banking ArenaCopyright © 2019 ValleyMedia, Inc. 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.CIOReviewContact Us:Phone:510-230-0395Fax:510-894-8405Email:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com September - 16, 2019, Vol 08, Issue - 81 (ISSN 2644-237X) Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffSalesAaron PierceCarolynn WaltersDean WinchesterLora OakesShirley FaithRussell ThomasStephen Thomasstephen.thomas@cioreview.comVisualizersIssac GeorgeJohn Gotham*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffJustin Smith Managing Editoreditor@cioreview.comManaging EditorJustin Smith
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