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IDC Report: The Banking Sector in the Age of Digital Transformation

The Finance Services Sector is undergoing a significant digital transformation. “This transformation effects the business model”, says Fabio Rizzotto, Senior Consulting & Research Director IDC Italy. A white paper written by IDC, and sponsored by Huawei Italy EBG, states that the finance sector needs to put in place digital transformation initiatives to remain relevant for its customers and to be able to interact with them in a new, faster, and smarter way.

IDC predicts that omni-engagement levels will become a barometer of customer profitability for financial institutions as the number of interactions increases 10% year over year. Banks must change their mindset, moving from "build it and they will come" to "engage once they are here."