Enlightenment from data within

Today the banking industry faces a rebirth by necessity. As the digital age morphs into the cognitive era, success depends on radical transformation that enables the integration of advanced analytics, artificial intelligence, machine learning, robotics, blockchains and more. For 64 percent of those surveyed in 2016, their organization’s efficiency remained the same or declined over the last three years.Tapping huge quantities of dormant, bank-owned data, much of it unstructured, is essential to offering the individualized engagement that customers demand, transforming operations and benefitting from fintech innovation. How can you take advantage of these technologies to build a cognitive bank?

Study highlights

80% more outperformers than underperformers have adjusted their strategies to deal with challenges from fintechs. - ibm.biz/cognitivebank

Only 28% of banking executives are familiar with cognitive computing. Just 17% say their organizations are ready to use it. - ibm.biz/cognitivebank

58% more outperformers than underperformers expect cognitive computing to impact their business lines and functions. - ibm.biz/cognitivebank

Almost 3x more - outperformers are prepared to adopt cognitive computing than underperformers. - ibm.biz/cognitivebank

3.3x more - outperformers than underperformers say cognitive computing is strategically relevant to their organizations. - ibm.biz/cognitivebank

About the authors

Jim Brill

Jim Brill
Director, Global Industry Marketing
and Communications, IBM

Nicholas Drury

Nicholas Drury
Global Banking & Financial Markets
Leader, the IBM Institute for Business Value

Allan Harper

Allan Harper
Cognitive Banking Leader, IBM Global Business Services

Likhit Wagle

Likhit Wagle
Partner and Global Industry
General Manager for Banking
and Financial Markets,
IBM Global Business Services

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