Digital Banking Trends and Predictions for 2023

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Content
01 Foreword 03
02 Renato Oliveira, CEO of ebankIT 03
03 The Digital Banking Landscape 04
04 Client Onboarding Done Right 07
05 Technologies That Enhance the Digital Onboarding Experience 08
• Artificial Intelligence 09
• Robotic process 09
• Optical Character Recognition 09
• Computer Vision 09
• Natural Language Processing 10
• Big Data 10
• Biometrics 10
06 Chatbots Supporting Employees And Improving CX 10
07 ESG and Sustainable Finance 12
08 Super Apps: Hope or Hype? 14
09 The Back Office Reinvented 16
10 Rising Cybersecurity Threat 16
11 The Metaverse: A New Reality For Banks 17
12 Conclusion: Innovate To Win 18

Humanize Banking With ebankIT: 19

Why do customers choose ebankIT? 20

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Foreword
In an era of uncertainty, volatility, and disruption, This rapid pace of innovation is creating a golden age
business as usual is not an option. When the world of choice for consumers. When choosing a financial
changes, we must change with it or risk being left services provider, they have more options than ever
behind. However, predicting the future is always before. Yet the rising competition raises a very real
difficult - and is only becoming harder. We cannot risk. If banks do not understand and respond to
accurately forecast the movements of the markets over customers’ demands, they risk losing them. The days
the next year. Nor can we fully anticipate the business when customers picked a bank account in their teens
impact of global events and ongoing challenges such as and stayed with it for the rest of their lives are gone
inflation, rising cost of living, and supply chain issues. forever. Incumbents can no longer rely on loyalty. They
What we can say for sure is that conditions tomorrow must play to win against innovative new competitors.
will not be the same as they are today.
The good news is that banks have just as many options
As we move into 2023, banks face a challenging as consumers. By delivering the right technologies,
environment. There is not just one technological at the right time, financial institutions can win in
earthquake taking place - but many. Agile fintechs new markets and consolidate their success in legacy
are offering new services in new ways. New entrants, markets. The tech that enables growth and digital
including big tech and consumer brands, are also transformation is now easily available to any bank that
delivering new services in unexpected contexts within wants it. Institutions no longer have to do the hard,
non-financial journeys, experiences, or platforms. risky work of innovation in-house because fintechs
are hard at work solving problems - sometimes before
anyone else has even spotted them. Understanding
the trends which will shape the banking sector going
forward is the first step towards future success.

‘‘We want to help banks and credit unions anticipate changes, respond to them, and
future-proof their business strategy. ebankIT exists to enable financial institutions to
reach their full potential by giving their customers a customizable, omnichannel, and
humanizing experience. Change is coming - and we’re here to help.’’

Renato Oliveira
CEO of ebankIT

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The digital banking landscape

Banks once faced a simple choice: digitize or lose by 5% between 2021 and 2027. In 2020, the total value
customers to competitors. The answer was clear. of digital payments climbed to $750 trillion, with digital
Today, the questions facing financial institutions are transactions soaring above $900 billion.
much more nuanced. Banks must not only roll out
digital technology, but ensure their offerings respond These are big and optimistic figures, showing that the
to the changing needs of next-generation customers future is very bright indeed for players that are able to
and keep up with a vast range of new and old ride the wave of growth and digital transformation. Yet
competitors in an expanding market. the future is also uncertain and likely to be dynamic
- or even chaotic. Digital disruption is creating new
The growth of the digital banking market will accelerate winners and losers, with incumbents winning or losing
in 2024 and beyond. The size of this market grew to based on the quality of their digital offerings.
more than $8 trillion in 2020 and is predicted to grow

The size of the digital banking market grew to more than and is predicted to grow by

$8 trillion 5%
in 20201
between 2021 and 2027

In 2020, the total value of digital payments climbed to with digital transactions soaring above

$750 trillion $900 billion

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Competition is rising, with banks not just competing To the unprepared, an uncertain future appears
between themselves but taking on agile new risky and dangerous. Yet to banks and financial
entrants to the market, which include fintechs and institutions that are braced for change, the future
non-traditional players, such as big tech companies contains limitless opportunities.
which have deep experience in delivering gold-
standard digital experiences. The economy is One thing is certain about the future. Data and
also likely to be extremely turbulent, with post- analytics are the primary enablers of digital banking
pandemic fluctuations and ongoing inflation, cost- transformation, powering all the technologies
of-living, and supply chain crises combining to make which allow banks to get to know their customer
markets extremely volatile and unpredictable. and offer them products that suit their needs,
desires, and financial context.
The winners of tomorrow will not just mitigate and
manage these serious issues. They will discover
creative ways to address them directly, using
disruption and change as fuel for future growth.

This report identifies the trends that will shape

the financial services sector in 2023. It will help
innovators understand the changes that are
coming to banking and prepare to lead the next
generation of digitally-empowered financial
institutions.

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Digital transformation challenges

The obstacles banks face when enacting digital transformations and improving data quality,
ranked by the number of survey respondents that said an issue was their number one
challenge

Problems caused by a lack of front-office controls 13

Ineffective data infrastructure 12

Low levels of business buy-in for data transformation 12

Senior management do not pay enough attention to

data and regard it as an IT issue 12

Insufficient central direction on digital transformation 10

Inefficient governance procedures 9

Low levels of funding or resources for transformation

schemes 8

Transformation is driven by regulatory compliance 6

Slow and inefficient manual processes 4

Source: McKinsey, Next-gen Technology transformation in Financial Services, page 101

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Client onboarding done right

Onboarding is often a bank’s first interaction with a
customer - and potentially the last because it only takes
one moment of friction for a consumer to log off and “Implementation of [automation]
open an account with a rival. Customers are unwilling also sets the stage for later
to accept paper-based processes and unlikely to agree addition of more sophisticated
to visit a branch to complete their application. Business automation technologies. With
clients are even more demanding. Onboarding early investment, a return can be
commercial customers takes time, creating many realized quickly.”
opportunities for them to abandon the process. There
is also no shortage of competitors, meaning that a Deloitte

point of friction at the early stage of onboarding is

enough to lose a new customer.

Deloitte2 has estimated that banks have to invest as much as

$30,000 When thinking about delivering a great onboarding

experience, banks can no longer look only to
traditional rivals for inspiration. Customers are now
to onboard a new commercial client, which typically requires
an eight-step process. accustomed to the effortless experiences offered by
Apple, Paypal, Facebook, or one of the many other big
First, clients must be found and confirmed. Banks
tech household names. They expect opening a bank
must then collect the account owner’s data, verify
account or arranging lines of credit to be as easy as
client data, establish credit lines, and undertake legal
opening an account on Twitter.
due diligence. Then an account can be set up, data
gathered, and ongoing reporting carried out to ensure
Automation can improve onboarding, but it is only part
compliance and lay the groundwork for future cross-
of the solution. If banks want to serve the customers
selling.
of today and tomorrow, they must also remember
to humanize the process. This means ensuring that
Many of these processes can now be automated,
applicants are one click away from speaking with an
removing the need to employ staff to carry out manual
actual human employee. Digital experiences should
work and freeing up existing employees to focus on
also be accessible to everyone, including people with
more challenging tasks. In its automation paper,
disabilities. Building digital infrastructure means that
Deloitte calculated that institutions that automate
banks can deliver services to anyone, anywhere. The
processes can reduce their costs by 50%.
services must be designed to fit into this reality.

50%
cost reduction achieved by automating manual processes in
the business banking customer onboarding.

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The Customer Onboarding Lifecycle

Origination Document Background Set up credit

3-6 weeks gathering checks & terms
$2,000 - $5,000
1-4 weeks verification 1-3 weeks
$1,000 - $5,000 $500 - $2,000
2-4 weeks
$1,000 - $5,000

The first stage of onboarding Collecting documents is The process of verification Completing checks and
include finding, researching, slow and time-consuming, involves checking client due diligence on clients’
pitching and winning new often relying on manual information against internal credit. Setting credit limits,
clients. This is followed by work. Staff must be sure to databases as well as those based on data validated by
sending requests to begin check all information and held by third parties or employees. This stage of
onboarding. These processes validate it. government agencies. May onboarding requires the
are typically manual. require laborious manual assessment of multiple

work. data sources.

Manage Setup Archiving data Cross-selling

agreements accounts and tracking and analytics
1-3 weeks$ 1-2 weeks transactions Ongoing $1,000 - $3,500
1,000 - $3,000 $500 - $3,000 + Recurring costs
Ongoing $1,000 - $3,500
+ Recurring costs

Carrying out legal due The set up of new accounts The monitoring and The collection of

diligence and negotiating on bank systems. If this is recording of customer information which can be

terms with clients - which manual, it can involve data transactions and other used to cross-sell products

involves both manual work entry and risks introducing information such as account and produce analytics

and ensuring approvals mistakes due to human balances. Unless this is for customers. Manual

from all parties involved. error. automated, it requires reporting is inaccurate and

manual effort that is both may not capture enough

inefficient and expensive. information to make the

process effective.

Information Gathering Manual Processing Data Validation

Source: Cognizant Data, Deloitte Analysis

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Technologies that enhance the

digital onboarding experience

Artificial Intelligence Robotic Process Automation

McKinsey has reported that artificial intelligence (AI) will add Gartner4 has reported that robotic process automation

$1 trillion
(RPA) can save finance departments up to “25,000
hours of avoidable rework caused by human errors”
each year - representing a saving of $878,000 for an
of value to global banks each year. 3
organization with a team of 40 full-time accounting
staff.
Banks are already deploying AI-powered virtual
digital assistants to carry out routine tasks or RPA can perform a variety of tasks in onboarding
automate onboarding journeys. AI can also mine data which once required human staff, such as data entry
and insights to continuously improve journeys by or opening user accounts.
identifying bottlenecks and points of friction.

Scan Optical Character Recognition

When customers upload ID such as passports and
driving licenses, OCR (optical character recognition)
can scan them automatically - again doing a job that
was once performed by a human. As well as extracting
the data from identification documents, OCR can also
scan handwritten application forms and digitize the
information.

Computer Vision
This technology enables machines to “see” and process
images or video. It can enhance Know Your Customer
(KYC) processing by checking customers’ photos
or selfies taken during onboarding against their ID
documents.

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Natural Language Processing

Natural Language Processing (NLP) enables computers
to understand human text or speech. This can be used
to scan documents or can power virtual assistants
capable of understanding customers’ natural speech.

Big Data
Analytics and data are key to unlocking personalized
experiences. By gathering insights and data, banks can
ensure onboarding is friction-free and tailored to an
audience of one.

Biometrics
Most smartphones now have fingerprint scanners or
other types of biometric scanners which can be used
to identify a customer. Biometrics can reduce the time
taken to carry out ID checks during onboarding and
provide a time-saving alternative to verification in
person.

Chatbots supporting employees

and improving CX
In the future, software will continue to enhance the Chatbots do not sleep or rest. They do not need to
work of human employees, with chatbots performing work in one given location. This enables them to
increasingly complex tasks and serving as the deliver services around the clock, allowing them to be
customer-facing front end of a bank’s interactions with accessible when a customer needs them rather than
its clients. being bound by office hours.

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Digital banking customers are becoming accustomed to Data and AI will be the differentiator and are key to both
talking with machines and are predicted to spend training the chatbot and ensuring it is working for the

$142 billion
benefit of customers. Large datasets of past customer
behavior can show chatbots how to react to certain
customers, whilst more personalized experiences can
using chatbots by 2024 - up from just
5
be enabled by data relating to individual customers.

$2.8 billion
in 2019.
Bank of America is one of the banks that introduced
a digital assistant, which is called Erica. It now has 24
million users who completed 123 million interactions7
during the fourth quarter of 2021, an increase of
Soon, they may even choose to interact with chatbots
247% year over year. Erica has also been trained to
instead of humans, with a survey finding that
recognize “intents,” which means it can understand

40%
slang phrases8. The key to a successful chatbot is
personalization - which can only be unlocked through
data and AI.
of internet users6 actually prefer interacting with chatbots

more than customer service agents.

Chatbot
Chatbots are uniquely suited to our mobile age, in
which customers expect to be able to speak with banks
from anywhere and at any time via their smartphones. Welcome Emily. I am Helper Bot.

Gartner predicts that they will “become the primary

What category do you choose?
customer service channel for roughly a quarter of
Health Leisure Education
organizations” by 2027.

When deploying chatbots, banks cannot just set and

forget. After first setting a strategy for their chatbots,
they should continuously reassess key metrics
such as the onboarding journey completion time,
abandonment rate, and how long it takes to deal with
a query. Natural Language Processing can also reveal
if customers are frustrated when talking with chatbots.
The aim should be to remove friction, not increase it.
So chatbot metrics should be drawn up based on its
usage and the services it delivers in order to make sure
they are working at peak capacity.

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ESG and sustainable finance

Strategy Ambition Outcome

To avoid transactions which are not aligned with Prevents financial institutions from investing or

environmental, social, and ethical standards. This transacting with companies involved in the arms
Negative
Screening is the most straightforward and popular ESG asset trade, tobacco, or fossil fuel production.

management technique.

Work with companies that score highly on ESG Using best-in class screening to identify

factors and have a provable positive reputation. businesses with higher ESG scores compared
Positive
Screening to their peers - or those that are improving ESG

scores - enables banks to work with companies

with a positive image/ reputation

Integrate ESG calculations into financial decisions The creation of a sustainable finance portfolio that

in order to reduce risk, improve returns and is selected using both financial and ESG factors.
Integration
embed an ESG focus throughout an organisation.

To invest in companies or projects that work The development of lending initiatives that drive

towards positive social or environmental change, positive change such as accelerating the transition
Thematic
Investing such as tackling climate change or improving to a low-carbon, sustainable economy.

gender equality.

Enabling banks to take a more active role in Reduce carbon emissions and help to encourage

managing their own ESG impact as well as clients to enact innovative solutions which reduce
ESG
Engagement the impact of clients or customers with aim of emissions or achieve other positive outcomes.

improving performance.

Align with established international ESG standards, Achieve sustainable finance goals whilst

investment practices or ethical frameworks. demonstrating commitment to ESG targets and

Sustainable
frameworks.
Finance
Frameworks

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Consumers, investors, and regulators are now their checkouts, whilst card providers are making
expecting companies to follow environmental, social, their cards from recycled materials and incorporating
and governance (ESG) principles, which will lead carbon offset mechanisms which automatically fund
to exponential growth in demand for sustainable the planting of trees or similar positive climate actions
finance products. At COP26, the 2021 United Nations every time the holder makes a purchase.
Climate Change Conference, “mobilizing finance” was
named as a key part of the global bid to achieve net As well as ESG, Diversity, Equity, and Inclusion (DEI) will
zero emissions by 2050. McKinsey later said this continue to be a priority for consumers and regulators,
move encouraged financial institutions to move “from who will demand gender and racial diversity from the
urgency to action” and commit $130 trillion of assets to institutions they deal with. It will not be enough for banks
the net zero drive. to simply enact DEI and ESG programs in private and
hope for the best. They must prove their credentials,
Customers are looking for products such as green which is yet another use case for data transformation.
loans and mortgages, as well as checking accounts or By sharing ESG and diversity information, banks will
credit cards that incorporate sustainability features, demonstrate transparency and satisfy both regulatory
such as carbon footprint calculation. Forrester has and market demands. Gathering ESG data is the first
stated that “empowered consumers” are calling for
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step - sharing it is next. Combining data-gathering with
a “sustainability transformation”. Yet banks should automation allows banks to publish ESG information
be careful when serving the growing number of ESG- in real-time, simultaneously showing customers that
focused consumers because half-hearted and cynical they are committed to transparency.
“greenwashing” will repel customers rather than
attract them. In an era of growing awareness of DEI and an ongoing
climate crisis, banks have an opportunity to respond to
Many fintechs are now offering climate solutions the changing priorities of their customers in a way that
that allow merchants to embed carbon trackers in drives both growth and sustainable climate outcomes.

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Super Apps: hope or hype?

Lifestyle Artifical intelligence

Integration of own services: Voice assistant Oleg
Cinema, concerts, theatres Tinkoff Stories
Travel Tinkoff Target
Restaurants Personalised offers win up to 30% cash-back
Shopping Big data and machine learning
Sports Biometrics and other technologies
...

Marketplace Thinkoff ecosystem

Offers from partnersin a Single Tinkoff ID:
variety of industries: Wallet featuring ecosystem
Products and online retail Products
Health and beauty Tinkoff Investments
Restaurants Tinkoff Insurance
Product and food delivery Tinkoff Mobile
Cars, petrol stations taxis Tinkoff Business
Rest and recreation
Culture and education
Fitness and wellness
Cleaning services
Flowers and pets
...

Bonuses Daily banking

Management of cashback, bonuses All Tinkoff financial products:
Bonus points, miles
New products
Cashback on lifestyle services
Itemised receipts
Special offers with up to 30% cashback
Filter - enabled expense statistics
Instalment plans
Document requests
24/7 live chat support
Apple Pay, Samsung Pay, Google Pay
Crowdfunding
...

Tinkoff Junior Artifical intelligence

Banking services for children from 7 years of age Transfers, Including by phone and card numbers
Transaction limits and spending control Rapid Payment System
Kids can be assigned tasks and Government services
receive rewards tor their comp otion Traffic fines
Child geolocation Subscriptions to bills from government agencies
Tinkoff Junior app Payment of various services
Lifestyle services for children
Automatic payments
Children Storioc
QR code transactions

Source: Tinkoff Banking & Fintech, 2020

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When Apple first launched its App Store in 2008, it now, payments relied on the traditional banking
created an ecosystem in which each app typically infrastructure - but this is changing quickly, posing a
performed one task. The super app is a radical risk to institutions that currently operate payments
departure from this model, offering a myriad of services systems or other financial services infrastructure.
and products within one app. There are no true super
apps in the West, although Uber, Paypal, and Revolut In the future, super apps are likely to rely on Open
are all in the running to create one. In the East, WeChat Banking, which involves the consent-based sharing of
and Alipay in China or Go-Jek and Grab in South-East customer financial data to power new products and
Asia offer services, including instant messaging, social experiences.
media, online marketplaces, and much more. Instead
of using eBay, Uber Eats, and WhatsApp, super app Open Banking will enable super apps to leverage their
users simply have to open one app to perform tasks vast stores of customer data to deliver personalized
that once required dozens. These apps have huge user and innovative experiences. It will also allow
bases, with WeChat serving 1.24 billion users. customers to do everything from making payments or
investments to checking balances and other banking
KPMG has warned that super apps have the potential
10
operations right inside the app.
to “up-end” the banking sector. Super apps like
WeChat and Alipay already offer banking, savings, “As the popularity of super-apps grows, they could
and investment products to customers, which are become a much bigger source of competition for banks
disintermediating banks from their customers. They than either neobanks or fintechs,” Accenture warned11.
have access to vast amounts of customer data, so “By keeping users engaged on their platform, they
are capable of building experiences that respond to could make it almost impossible for banks to convince
the precise needs of their user base. They are also customers to leave the super-app in order to use the
building their own payment infrastructures. Until bank’s standalone digital banking apps.”

Super App at a glance

83% 4.3m >350

Customers DAU App team
use app every employees
month

4 min
20
36% Avg time spend
Independent
Sticky teams
factor(DAU/
MAU)
12m
MAU
1
Release every
2m month
Monthly in-app
applications 100m
Source: Tinkoff Business Strategy
Monthly in-app
payments

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The back office

of yesterday and towards a radically customer-centric,
data-empowered, and AI-assisted model. When

reinvented
enacting digital transformation, there is no point in
updating outdated processes. Instead, they must be
replaced with automation technologies that make the
back office more efficient - and ultimately improve the
customer experience.

Rebuilding IT architecture and leveraging data and

analytics will reduce costs whilst driving increased
customer satisfaction. If clients can ‘see’ the back
office, something has gone wrong. It should work in
the background as the center of a bank’s omnichannel
experience. Digital back office infrastructure should
be capable of administering business information,
customer interactions, and internal collaboration
without requiring any additional support from IT
teams.

Covid-19 has “brought a greater focus on product

innovation and customer experience”, Forrester wrote
in 202212. Customer expectation is growing at the
same time as competition is heating up. If traditional
Rising
banks do not deliver the seamless services customers
are looking for, they will simply move to a neobank or
cybersecurity
challenger bank - or even to a non-traditional player
which offers embedded finance services.
threat
As customers move towards digital, banks that rely
Banks have always been a target for hackers. As
on paper-based processes and outdated back-office
the digitization of the banking sector continues,
systems will lag behind. Conversely, institutions that
cybersecurity risk will grow exponentially. IBM has
reinvent the back office using data and AI will win.
reported that the average cyberattack now costs $4.24
million dollars and causes a 3% drop in stock price for
Digital transformation of the back office is not a slow
six months - as well as a lingering dent in customer
process that proceeds in small, gentle steps. In order
and partner confidence that is impossible to calculate.
to move quickly, it must be a radical reinvention that
If a bank cannot protect its data, how will customers
moves away from the friction-filled legacy processes
expect it to protect their money?

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To address the growing threat, banks should ensure We are already seeing institutions make their first
their digital platforms can integrate with external tentative steps into the metaverse. HSBC has bought
cybersecurity systems. Machine learning and AI can virtual real estate in The Sandbox metaverse, which it
also recognize behavioral patterns that indicate the will use to “engage and connect” with sports, esports,
presence of a threat. They must also be able to spot and gaming enthusiasts. J.P. Morgan has also opened
insider threats - the name for security incidents a virtual lounge in Decentraland, a 3D metaverse
involving people who work inside an organization. The platform.
number of insider attacks has grown by 44% in the
past two years13 and is likely to continue to grow in the Payments, savings, loans, and other financial services
future. Apps should conform with the latest standards will all be required in the metaverse, which will enable
on registration and authentication procedures and use people to buy virtual assets and digital real estate.
multi-factor authentication and biometric technology Virtual reality will also offer new channels for customer
to verify users. interaction that simulate the face-to-face experience
of branches but do not require expensive real estate
The cybersecurity threat cannot be defeated by and staff working in a fixed location.
technology alone. Humans are often described as the
weakest link in an organization’s defenses. To reduce Accenture has described digital banking as being
the risk, they must be trained to recognize hacking “functionally correct but emotionally devoid” and
tactics such as phishing emails, which are designed warned that “the empathetic and meaningful
to trick people into handing over passwords or other conversations we had in the past have been lost, along
information which allows hackers to penetrate into a with much of the customer’s trust in banks”14. The
bank’s network. The cybersecurity threat is growing metaverse enables banks to deliver the humanized
- which means banks’ responses must continue to experiences customers once received in person -
accelerate in order to keep ahead of the hackers. without the friction of visiting a branch.

The Metaverse:
A new reality for
banks
The metaverse is a new way for banks to engage with
their customers. Goldman Sachs and Morgan Stanley
have estimated that the Metaverse economy could be
worth up to $8 trillion - a figure big enough to spark a
virtual gold rush. Yet banks should be careful to avoid
betting all their money on the metaverse. It is primarily
an opportunity to reach customers in new ways.

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Innovate to win
Leaders have a big job ahead. They must steer banks
through a period of rapid change, growing competition,
and technological disruption. However, technical and
organizational ability is not enough. Leaders will need
to do more than manage budgets, steer tech initiatives
and ensure peak performance. They must understand,
demonstrate, and communicate the business value of
transformation.

When a bank sets out to revolutionize its digital

propositions, it may look as if it is embarking on a bold
new journey. Yet the destination remains the same
as before. The aim of transformation is to improve
customer experience and streamline back-office
processes whilst creating new revenue streams and
responding to changing marketplaces.

Banks have been doing all these things for centuries. same to keep up. Silos should be broken down so that
What has changed is the pace at which transformation tech teams can work across the organization to deliver
must be achieved. Today, annual strategies must be positive change at every level. The foundations should
delivered in weeks and weekly goals completed in be future-proofed so that banking platforms can be
hours. To remain competitive, the financial services easily updated to incorporate new tech or respond to
sector must carry out digital banking transformation changing customer demands, with IT teams embracing
at a speed that was once impossible. Transformation is agile practices which allow them to pivot at speed.
not a job that can be put off until tomorrow - because
if banks do not move quickly to take advantage of new Finally, banks should never forget the most important
opportunities, their competitors will get there first. part of their business: customers. During technological
transformation, institutions should be sure to focus on
To achieve transformation, Tech should be embedded building humanized services that meet their clients’
at the heart of an organization’s plans. Neobanks were needs. Banks that humanize today will succeed
built around tech, so incumbent banks must do the tomorrow.

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Humanize teams, and across every modern digital channel, from

mobile to web banking, from wearable gadgets to the

banking
metaverse and beyond.

Enhanced with flexible and robust out-of-the-box

with features, ebankIT Omnichannel Platform offers a

fast and seamless digital banking transformation

ebankIT
for financial institutions of any size and background.
With extensive customization capabilities and a
continuous focus on human interactions, ebankIT
future-proves the digital strategy of banks and credit
unions, empowering them with a truly customer-first
approach.

During digital banking

transformation, financial
institutions need to answer
the fundamental question:
“Buy-or-Build?” At ebankIT,
we believe that there is
an ideal middle-ground
solution: a ready-to-market
ebankIT enables banks and credit unions to deliver
solution with increased
humanized, personalized, and accessible digital
experiences. By adopting the ebankIT Omnichannel product adaptability and
Digital Banking Platform, financial institutions are
extensive customization
powered to offer an increasingly innovative user
experience to both their customers and internal options.

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ebankIT Omnichannel Digital

Banking Platform

Back-office
Back-office channels act as the control room of the entire omnichannel
experience. Banks and Credit Unions enjoy the necessary leverage
to customize and administer business information, without requiring
additional IT support. By taking benefit from a wide range of digital tools –
including a Monitoring Center and a Management System – banking teams
benefit from a more intuitive experience and may easily manage end users
and create transactional workflows.

Customer & Member Channels

Combining a customer-centric approach with a genuine Omnichannel
strategy, ebankIT turns every banking solution into an enjoyable journey
in which customers are free to use their device of choice and switch to
another at any given time. Loans, payments, transfers, cards, opening
accounts, and even a complete process of onboarding: every feature is just
a fingertip away, either through internet or mobile banking, or even in new
virtual worlds – like the metaverse.

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 | Disrupting Banking 2023 ebankIT - All Rights Reserved

Front-office
ebankIT enables banks and credit unions to explore every digital tool
to engage with their customers and members. The front-office layer is
designed to centralize every activity on both the banking branch and the
contact center, as well as create new ways to contact customers. Emails,
chats, calls, IVR customer service and more: every effort is integrated in a
single platform, enabling the banking team to monitor every interaction,
plan future campaigns and identify emerging opportunities in any given
market.

ebanKIT Integration Layer

The ebankIT Integration Layer is the getaway that enables banks and
credit unions to quickly implement the ebankIT platform. With pre-built
connectors, it easily integrates with all the main core-banking systems,
building the bridge between the core banking or legacy systems and the
ebankIT middleware. Flexible and fully agnostic, ebankIT is able to digitally
transform every financial institution, regardless of their size or background.

ebankIT Business Layer

The heart and soul of ebankIT Platform. ebankIT Business Layer runs on
an out-of-the-box basis, enabling the ease of deployment and the overall
increase in digital sales. ebankIT is based on a comprehensive catalog of
middleware tools, that range from Communication Gateways to a robust
Security Center.

ebankIT Studio
While affirming itself as a reliable and robust digital banking platform,
ebankIT also takes benefit from a growing ecosystem of partners, that
provide complementary technologies to grant every financial institution
a state-of-the-art solution. The ebankIT API Getaway opens the door for
the integration of third-party solutions, by providing PSD2 compliance and
offering banks and credit unions an endless roadmap of innovation.

ebankIT Studio
With ebankIT Platform, banks and credit unions are able to generate new
services in-house, with low amounts of coding and reduced costs. ebankIT
Studio is an omnichannel Integrated Development Environment (IDE)
that offers comprehensive customization tools, enabling each financial
institution to continuously adapt and reshape their digital portfolio and
business strategy.
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 | Disrupting Banking 2023 ebankIT - All Rights Reserved

Why do customers choose ebankIT?

Implementation Approach​
Founded in 2014 by an experienced team of fintech
experts, ebankIT’s work has already translated into
increased revenues and cost minimization for dozens Implementations performed by certified partners
of financial institutions worldwide. Today, the ebankIT (ebankIT Academy)
Omnichannel Digital Banking Platform is licensed
Evolution Support and Maintenance of the
to institutions in 11 countries, serving millions of
implementation performed by partners
customers and members.
Evolution Support and Maintenance of the
From the first moment, ebankIT technology guarantees implementation performed by partners
a class-leading time-to-market, which is only possible
because ebankIT Platform is widely equipped with From implementation onwards, financial institutions
pre-built connectors for the most popular core- engage in a disruptive innovation roadmap, with new
banking systems. ebankIT platform also offers banks product launches and updates every six months.
and credit unions a rich business middleware and the ebankIT is always working on new ideas, benchmarking
ebankIT Studio, an innovative Integrated Development the best practices, and following the most relevant
Environment (IDE), that enables each financial market trends.
institution to customize their digital catalog and to
generate new services in-house, with low amounts of
coding and reduced costs.

Where to find us
New York Vancouver London Porto
+1 (718) 717-8302 +1 (833) 434-1470 +44(0) 203 287 6592 +351 222 032 010 / 11
us-sales@ebankit.com global-sales@ebankit.com eu-sales@ebankit.com global-sales@ebankit.com
Level39, One Canada Porto Office Park, Torre A,
Square Canary Wharf Av. Sidónio Pais, n.º 153,
E14 5AB London – United 3° andar, 4100-467 Porto,
Kingdom Portugal

For more information, email us at: global-sales@ebankit.com

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 | Disrupting Banking 2023 ebankIT - All Rights Reserved

References
[1] https://www.gminsights.com/industry-analysis/digital-banking-market?gclid=CjwKCAjw4c-ZBhAEEiwA
Z105Rf2GQ7SAm1IQE2s548M9oXIKhB7YoZ0QY8TfWUwaG368HHtSCqXQ2RoC5RcQAvD_BwE

[2] https://www2.deloitte.com/content/dam/Deloitte/us/Documents/financial-services/us-cons-
automation-in-on-boarding-and-ongoing-servicing-of-commercial-banking-clients.pdf

[3] https://www.mckinsey.com/industries/financial-services/our-insights/ai-bank-of-the-future-can-
banks-meet-the-ai-challenge

[4] https://www.gartner.com/en/newsroom/press-releases/2019-10-02-gartner-says-robotic-process-
automation-can-save-fina

[5] https://www.juniperresearch.com/press/chatbots-to-facilitate-$142-billion-of-retail

[6] https://www.insiderintelligence.com/insights/chatbot-market-stats-trends/

[7] https://thefinancialbrand.com/news/data-analytics-banking/artificial-intelligence-banking/artificial-
intelligence-in-banking-top-priorities-for-2022-and-beyond-141233/

[8] https://thefinancialbrand.com/news/digital-banking/mobile-banking-trends/usaas-redesigned-
mobile-app-customer-experience-insights-for-banks-138690/?internal-link-embd

[9] https://www.forrester.com/blogs/empowered-consumers-call-for-sustainability-transformation/

[10] https://www.juniperresearch.com/press/chatbots-to-facilitate-$142-billion-of-retail

[11] https://www.insiderintelligence.com/insights/chatbot-market-stats-trends/

[12] https://www.forrester.com/blogs/in-2022-banks-are-refocusing-their-efforts-on-innovation-
sustainability-and-it-improvements/

[13] https://techjury.net/blog/insider-threat-statistics/#gref

[14] https://bankingblog.accenture.com/ultimate-guide-to-banking-in-the-metaverse

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