Traditional core systems that assume a branch interface and retain human-led back offices no longer meet needs. To be truly agile, banks must prioritise interoperability and automation through digital channels to stay competitive and avoid irrelevance. With this focus on digital transformation and initiatives such as open finance, banks are adopting a buy approach to software and infrastructure, especially when running core business applications on the cloud. Today, banks do not have to build customised software when providers have plug and play solutions readily available. Software providers have historically deployed a maintenance model where their customers opt for peruser licenses for a particular service. Now, with SaaS, software can be centrally hosted and delivered through the cloud. In addition, many providers are leveraging AI and ML capabilities, and embedding enhanced omnichannel features. This enables banks to optimise, tailor and deliver consistent customer experiences across digital channels, remove friction, and develop deeper trust. As new technologies open up data streams to and from third parties and emerging startups, banks will be able to offer their customers a range of new products, services and insights that will not only optimise customer experiences, both online and offline, but will create highly personalised, customised relationships. Download this Finextra impact study, in association with Amazon Web Services (AWS), to learn more.