The Darwin’s theory of evolution significantly holds true for the banks of this digital era. What can be called ‘Digital Darwinism’, where the technology and society has evolved faster than the bank have adapted in last 30 years. Therefore, it has become imperative for today’s Bank to switch from their age-old legacy systems to a more robust, efficient and modernized platforms to stay relevant in this digital age. Most of the leading banks are now investing heavily in digital technologies (such as blockchains, AI, Automation, Cloud computing) to reap their key benefits and stay competitive in the business.
