Industrial Internet Creates New Opportunities for Bank Digitization, and Open Banking Is the Future Trend by Xiao Gang: new.cf40.org.cn/uploads/202008… 1/5 #Digitization
The integration of the industrial internet and finance not only provides solutions to the management of credit, payments and settlements, account and funds, but also helps businesses upgrade their production and operations for greater efficiency. 2/5
Banks need differentiated strategies in their digitization as each bank has its unique advantages, culture, history and customer base. 3/5
Many large banks offer a comprehensive set of products services which small and medium-sized banks do not enjoy. So smaller banks need external help to promote their digital transformation. 4/5
Developing open banking is not just a matter of technology investment. It more needs to find a path for transformation. Banks need to know their weakness, seek cooperation accordingly, share resources and related costs, explore sustainable business models etc. 5/5
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