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To better understand where we are, you have to understand the growing importance of many of the technological advances we have seen over the past handful of years. In Greenwich Associates recent Top Trends in Banking report, 6 of the 11 trends cited are directly related to technology; whether it’s a focus on banks becoming technology shops or the maturation of things like Artificial Intelligence, the building blocks to support a massive shift have been organizing in the background for quite some time. 2017 is where they appear to be breaking the surface, especially when we focus on this aspect of the landscape.

Digital transformation is a term I often hear bandied about (in some cases it’s in a simple explanation of a channel strategy), but the banks that are using this term to mean its fullest are truly transforming their business, with digital as a central tenet or the tenet depending on the size of institution. To fully compete in the newly emerging landscape of commercial banking, moving beyond an update to “the channel,” and embracing transformation is key. Harnessing the power of AI or leveraging the new partnership ecosystem quickly emerging with Open APIs will give banks an upper hand in capturing new business.

So this brings us back to Panta rhei, or everything flows. Our friend Heraclitus would remind us this change won’t end, and keeping that front and center of our strategies is key. Quoting another famous thought leader, Charles Darwin: “It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.” 

Head of Digital Banking Solutions

As the Head of Digital Banking Solutions, Mark works closely with financial institutions discussing, exploring, and examining market trends and key drivers in the evolving digital solutions space with a key focus on mobile, tablet and the future of wearable technology. Prior to moving into the sales organization Mark was Senior Product Marketing Manager for ACI's Digital Banking solutions. He was responsible for developing and executing product launch and go to market activities for the related product lines. Prior to joining ACI in 2012, Mark worked at Greenwich Associates as a Senior Project Director on their Custom Projects team. Mark holds a Bachelor of Arts from Lafayette College.  The future of Fintech and where the digital banking evolution will take us is at the heart of what Mark reads about, researches, discusses, promotes and debates. As a proud card carrying millennial, Mark's primary goal is to bring a fresh yet informed point of view to the discussion. It is truly an exciting time to be in the industry as everything down to the foundation of the financial society is being challenged by innovative individuals and start-ups alike. Mark looks forward to helping companies and banks alike navigate the disruptive environment they are in today towards a successful future.