Top 10 Banking Technology Solutions Companies - 2022

Over the last decade, the banking industry grew exponentially due to rapid technological developments. Even with the unexpected pandemic, the global digital banking sector revenue is expected to slowly reach a value of 14.4 billion USD by 2028. Furthermore, these regional forecasts also indicate that the APAC region will dominate digital banking platform market in the near future.

Such growing demands are owing to the rising popularity of enhanced customer experiences and usage of machine learning (ML) and artificial intelligence (AI) in the banking industry. Through effective communication, banks are trying to implement customer centric approaches to retain customers.

These strategies aid banks to deliver prompt and better services which can further increase loyalty among customers. Digital banking's omnichannel characteristics help banks to provide personalized customer experience through voice, chat, email, mobile, and so on, facilitating client engagement across all points of contact. These efforts increase the revenue generated by a scale of 5 to 15 percent for the banks. In addition, the rising utilization of technologies such as AI and ML in banking platforms have assisted this revenue growth. The implementation of AI provides banks the ability to offer quick and effective services to its customers. Furthermore, ML has aided banks to strengthen their security aspects to anticipate attacks and threats.

In this edition of CIO Review APAC, we present you with the list of top ten banking solution providers in the APAC market space which are at the front line of innovation in the region's banking arena. Bankograph is a company that provides digital banking in a box as a service by leveraging AI to help banks provide a secure, simple, and fast platform for customer retention and acquisition along with managing deposits and loans. CIO Review APAC also presents you with exclusive insights and thought pieces from expert CIOs and CXOs - Frank Tian, Vice President, Risk Management at Union Bank, Lyndon Subroyen, Global Head of Digital and Technology at Investech (LSE: INVP), and Rush Blevins, Chief Information Officer at Flagship Credit Acceptance, discussing and providing their ideas on the trends currently practiced in the industry. We hope these valuable insights from industry leaders and solutions from leading solution providers featured in this edition will assist you in making informed decisions for your businesses.