Glossary

Digital Banking

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Agile Development AIOps Analytics Platform API Integration API Management Application Modernization Artificial Intelligence Augmented Reality
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Banking as a Platform Banking as a Service Big Data Business Analytics
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Claim Automation Claims Management Clinical Research Clinical Software Cloud Advisory Cloud Deployment Cloud Infrastructure Cloud Migration Cloud Native Development Cloud Security Cloud Strategy Cloud-native Security Core Banking Corporate Banking Customer Data Platform (CDP) Customer Experience Customer Experience Journey Customer Experience Strategy Customer Intelligence CX Strategy Cyber Resilience Cybersecurity
D
Data Analytics Data Center Modernization Data Integration Data Lake Data Security Data Transformation Denial Management DevSecOps Digital Banking Digital Commerce Digital Engineering Digital Experience Platform Digital Front Door Digital Health Platform Digital Insurance Digital Lab Digital Mosaic Digital Payments Digital Platform Digital Transformation Digital Wealth Management
E
Edge Computing Enterprise Integration Enterprise Security Experience Transformation
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Healthcare Payor Healthcare Technology
I
Identity Access Management Intelligent Automation
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Legacy Application Modernization Life Sciences Technology Loan Origination
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Machine Learning Medical Devices Microservices Mobile Edge Cloud Monetizing 5G
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Network API Network Assurance Network Performance Network Transformation No-code/ Low code Application Development
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Process Mining and Process Excellence Product Engineering Product Sustenance Public Cloud
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Ransomware Retail Banking
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Software Application Development Software Development Software Engineering Software Modernization Software Product Development Software Product Modernization
What is Digital Banking?

Digital banking means that all traditional banking products, processes, and activities are turned into digital files so that customers can use them through online channels. Digital banking is the process of digitizing (or moving online) all of the traditional banking activities, programs, and services that customers used to do only when they were in a bank branch.

With Digital Banking, customers can access almost all finances with a single click on their smartphones, irrespective of national or bank holidays. Customers do not visit their banks anymore to avail advanced banking facilities because of digital transformation in banking.

Digital gives customers services that were once only available at a bank branch.

What are the business benefits of Digital Banking?
  • Digital banking has enhanced cost-effectiveness by streamlining resources and adequate monitoring of operational costs.

  • Digital banking has increased financial inclusion by penetrating the remotest part of rural areas with the help of digital technologies and applications.

  • Digital banking improved accessibility for customers as they need not travel to physical branches of banks to perform basic banking functions.

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