World's banks accelerate shift to digital after COVID-19

Digital technology highlighted as key to meeting new decarbonization targets as Atos launches new Digital Vision: Digital Banking paper

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Atos

Oct 06, 2021, 04:00 ET

IRVING, Texas and PARIS, Oct. 6, 2021 /PRNewswire/ -- Banks are rapidly accelerating their shift to digital channels as they seek to reinvent their business models in response to the COVID-19 pandemic, a new paper from Atos reveals.

Incumbent banks are facing a major challenge in fighting off digital competitors, while all banks must harness technology in order to meet new decarbonization targets and regulatory requirements, as well as cater for rising consumer demands.

Two thirds (66 per cent) of banking leaders named transforming the digital customer experience as a top priority over the next year in a survey, while a further 80 per cent said digital technology is essential to achieving their decarbonization targets. Almost half named account security and protection from fraud as a key priority.

The results, from a survey that included 400 retail banking leaders across North America and Europe, are highlighted in the latest global opinion paper by Atos, Digital Vision: Digital Banking, which brings together leading voices from across the industry and geographies, including North America, to examine the latest trends that are shaping and transforming the digital future of banking.

Digital Vision: Digital Banking illustrates how digital technology is making banking smarter, greener and safer. It details how big data, artificial intelligence, blockchain and the Internet of Things are offering banks new opportunities to transform the customer experience, decarbonize operations, and protect their business and customers from external threats.

Adrian Gregory, Global Head of Financial Services & Insurance at Atos, said: "Digital disruption is not new to the banking industry: technologies advance and hungry market entrants are emerging all the time. What has changed, however, is the massively accelerated shift to digital channels as a result of Covid-19. Atos is working with our banking customers and global partners to help navigate and accelerate business and digital transformation to deliver banks' priorities and ambitions. At this pivotal time in history, we see important opportunities to collaborate to help create a cleaner, more inclusive and secure future for all."

The Digital Vision: Digital Banking paper builds on the experience of Atos as a leading digital partner to many of the world's banking, capital markets and insurance companies, providing integrated technology solutions that help financial services providers prosper in a rapidly evolving digital world.

Over the past year alone, Atos has secured a broad range of banking, insurance, pensions, and capital markets contracts across multiple continents. Examples include the selection of Atos by Banque Misr, one of the largest banks in Egypt, to support its transformational journey to become the country's first digital bank; a minimum 10-year contract with Nest to design and build a future focused pension scheme; and an extended agreement to accelerate transformation with Dutch insurer VGZ.

About Atos

Atos is a global leader in digital transformation with 105,000 employees and annual revenue of over € 11 billion. European number one in cybersecurity, cloud and high performance computing, the Group provides tailored end-to-end solutions for all industries in 71 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos operates under the brands Atos and Atos|Syntel. Atos is a SE (Societas Europaea), listed on the Next 20 Paris Stock Index.

The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

SOURCE Atos