Key digital solutions – including sales and service transformation, mobile payments, analytics, video advice, and cybersecurity – drive more than 90 percent of the value for retail banks
Cisco announced a new research titled “Roadmap to Digital Value in the Retail Banking Industry”, which reveals that retail banks have the potential to realize $405.3 Billion from 2015 to 2017 as the Digital Value at Stake (VaS) . Yet, in 2015, financial services as a whole captured just 29 percent of that opportunity. Of the challenges slowing growth and innovation, cybersecurity weakness is certainly at the forefront. Cybersecurity concerns have prevented retail banks from adopting digital technologies and business models. And this has contributed to them missing out on more than 70 percent of the potential revenue opportunity.
Mike Weston, Vice President, Cisco Middle East says:
“With the pressing realities of agile ‘fintech’ disruptors, digital consumer demands, and complex regulatory
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