The Banker: European Banks And Digital Transformation
Sep 22, 2020
Lisa Quest, UK Head of Public Policy, and Deborah O’Neill, UK Head of Digital, spoke to The Banker on how European banks are grappling with digital transformation.
The Banker explained that COVID-19 has accelerated retail and business banking customers’ adoption of digital financial services, driving banks to speed up their transformation programmes across their geographical footprint in Europe.
Commenting on the development, Lisa highlighted that “digital transformation should be about creating new value, reducing internal costs or risks, or offering better value to customers.”
Deborah added that CEE banks have the opportunity to leapfrog technologies: “There are increasing levels of mobile adoption in eastern Europe and Russia, and investment in innovation.”