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American Banker, US: Cognizant’s Chief Digital Officer, Banking and Financial Services Discusses the Future of Digital Banking

“Banks have very disconnected systems and databases that don’t always talk to each other. It can be very complex to make it work,” Philippe Dintrans said. But when you’re starting anew, it makes it a lot easier.” Excerpts:

"For banks that have spent decades refining their business models and building brand loyalty, it may seem like a curious decision to launch an online-only bank that targets a different audience.

But a growing number of institutions have decided it’s a step worth taking. A digital bank with its own brand can be a low-risk way to test new technology and expand nationally, bankers and industry consultants say. And in a rising-rate environment, when rate-chasers might be looking switch institutions, an online bank can help its larger parent company assist in gathering deposits."

Click here to read more. Please note access to the full article requires a subscription to American Banker.