Interview: The importance of Digital Transformation for the banking sector

The majority of banks in Cyprus and Europe are already in the process of implementing their digital strategy. There are 4 key factors driving these digital transformation efforts. The first factor is the need of banks to offer a better customer experience. Secondly, the access to new technologies that can support the banks in their process of digitization and also the availability of data and information that can be utilized to design more effective customer service strategies and design more personalized products and services are two important factors. Finally, digitization provides new opportunities for lower cost and increased profitability. New affordable technologies enable banks to collect, analyze and present information easier and faster, providing the opportunity for more in-depth strategic decision-making, optimizing their branch network, managing their resources and risks more efficiently. Logicom Solutions is a trusted digital transformation partner for many banks in Cyprus and abroad supporting them in their digital transformation journey by offering high-quality, value-adding advisory services, software solutions and a comprehensive set of solutions for ICT infrastructure.

Read more about the interview of Mr. C. Kridiotis, the Managing Director of Logicom Solutions: