The digital transformation of commercial banking
Thanks to digitization efforts, commercial banks have weathered the storm of COVID-19. Contactless payments, mobile deposits, and remote services kept money moving and businesses afloat in 2020. But, according to Brian McCumber, CPA, director of Next Generation Banking at FIS, even as financial institutions quickly pivoted, the fundamentals of banking remained steadfast.
In this season of Financial Futures, we're focusing on banking's digital transformation. Digitization is no longer optional for financial institutions––it's necessary. We'll unpack what this trend actually means for banks, consumers, and communities alike.
In this episode, Brian McCumber, CPA, director of Next Generation Banking at FIS, explains how commercial banks have adapted in the past year and the challenges they still face ahead. We’ll explore how the commercial customer experience changed and the three major priorities for commercial banks.
We’ll also talk about:
- What are some bright spots of the commercial banking sector?
- How are commercial banks implementing government support schemes?
- What role are fintechs playing in the digital transformation of commercial banking?
- What are the fundamentals of commercial banking?