Digital Banking Platform Strategy Guide

This guide outlines the journey of implementing digital banking platforms, addressing key considerations for financial services organizations. It begins with an exploration of the necessity of digital platforms in the banking sector, emphasizing their role in enhancing enterprise adaptability, ecosystem integrations, and customer engagement. The document defines what constitutes a digital banking platform and discusses the critical components necessary for its success, including user experience, business capabilities, data management, and engineering layers. It also presents strategic questions for organizations to consider when deciding to build or buy a platform. Additionally, the guide highlights the challenges faced by banking leaders in building cohesive digital platforms, such as architectural complexity, innovation debt, and cultural shifts required for successful implementation. The authors aim to provide a systematic approach to thinking about digital banking platforms, offering insights into best practices and future trends in the age of AI.