Technology innovations and digitisation are initiatives that are helping modernise and enhance financial services business models, and recent trends indicate that these are no longer the monopoly of the larger financial services institutions.

Latitude Fintech has published a new white paper – in partnership is IBS Intelligence (IBSI) – on the key trends in digital transformation across India and Australia.

In IBSI’s view, the technology and digital innovations by the smaller financial institutions in a developing market like India is more broad based. It encompasses both backend core technology and front-end technology focused on improving efficiency and making the customer comfortable with using technology.

On the other side is a mature market like Australia, where Mutual banks and Credit Unions have invested in new technology initiatives to increase customer convenience and improve customer retention. Different approaches to digital technology innovation has resulted in varied solutions being developed and deployed in each of these markets and hence providing a huge scope for cross leveraging technology to improve the efficiency and customer service for both of these markets.

The full whitepaper can be found here.

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: