Finance

How Digital Transformation is Shaping Banking Services

Published

1 year ago

September 19, 2024

Gil Villa

Reviewed
By Mike steven

How Digital Transformation is Shaping Banking Services

Digitalization has become an imperative for banks. As we have seen in Digital Transformation Banking our review of our case examples, a successful digital transformation can lead to better business outcomes, including higher balances for current account savings accounts, lower cost-to-income ratios, increased customer acquisition and retention rates, and faster time to market.

However, only 30 percent of banks that have undergone a digital transformation report successfully implementing their digital strategy, and the majority fall short of their stated objectives.1 This low success rate holds true for most industries and has remained constant for many years despite significant technological and organizational innovations, though technology-focused companies typically fare better.

In this post, we discuss why banks often fail to execute their digital transformations—and what they can do to tilt the odds in their favor.

Image by: https://cloud front. net

Common traps to avoid

Banks often argue that if they had a sufficient technology budget, their transformations would be successful. But we have seen several banks in recent years allocate significant resources to their digital transformations and still struggle to execute them.

The nature of the banking industry poses specific challenges. For one, banks have invested in technology for decades and thus typically have developed a significant amount of technical debt, along with a siloed and complex IT architecture. Separation between the business and IT makes it more challenging to implement the necessary cultural shifts. Finally, banks also face an aging workforce, particularly compared with purely digital fintechs.

We have identified a common set of execution challenges that threaten to derail banks’ digital transformations, and follow with a set of recommendations for how to overcome them.

Underestimating complexity and cost

A digital strategy begins with a business case, and every business case is calculated with a specific time to impact. Once transformation initiatives extend beyond the expected project duration, the increase in cost can often overtake the projected value of the original transformation or lead to its cancellation.

More than half of digital banking transformations exceed their initial timeline and budget—or fail.2 Leaders often underestimate the complexities of executing a digital transformation, which typically involve complicated interfaces, data management, and interdependencies across initiatives. Common mistakes include not fully involving all stakeholders in the development of the strategy and blueprint, miscalculating the extent to which existing business processes need to change, and not sufficiently implementing the magnitude of changes required to truly reap the benefits of the transformation. These challenges are especially relevant for banks, given that the business side is often removed from technology developments, business processes are assumed to be fixed, and the IT architecture landscape is particularly complex.

Initial budgets often fail to account for these factors, which can lead to a delay in the impact and the impression that costs have spiraled “out of control” when, in reality, the program was never feasible in the way it was originally envisioned. According to our research, 70 percent of digital transformations exceed their original budgets, and 7 percent end up costing more than double the initial projection.3

Underestimating technical debt

The need to address technical debt—by cleaning up legacy technology stacks, unused applications, and excessive infrastructure—is often missing from initial transformation budgets or perceived to be less important than other transformation initiatives. It is, however, a critical prerequisite to executing a digital transformation at pace, even if the work does not generate an immediate financial gain. Therefore, banks need to assess and prioritize the work of addressing technical debt from the beginning of a digital transformation.

In general, because banks have many legacy IT applications, they have higher technical debt compared with other industries, making it harder for them to create the platform they need for the digital future (exhibit).

Challenges in measuring impact

As the saying goes, what gets measured gets done. Yet few organizations effectively measure, and therefore deliver, top- and bottom-line value over the course of a digital transformation. Banking leaders must identify critical impact metrics, baseline the current state, and track the impact during and after the transformation. Only then can they achieve the full financial benefits of the transformation effort.

In our experience, banks struggle to accurately quantify and track the impact of their digital strategy Digital Transformation Banking and to establish a clear link between specific initiatives and their revenue and profit growth. Too often, leaders do not capture the full value of their digital strategy because they lack well-defined success parameters, inadequately engage the full set of end users (customers, employees, and other stakeholders), and fail to consider the potential adverse effects on customer satisfaction.

Slow pace of change

Large banks typically lag their competitors on innovation speed and productivity. A reliance on traditional operating models, coupled Digital Transformation Banking with limited adoption of agile ways of working, can hinder the success of their digital transformation. A McKinsey banking survey conducted in 2021 found that while fintechs and neobanks release new product features every two to four weeks on average, traditional banks have product rollout cycles of four to six months. Our research also shows that large banks are 40 percent less productive than digital natives.4 This slow pace of change can cause banks to give up on their digital transformations rather than attempt to overcome the underlying cultural barriers that inhibit the speed of the transformation.

Missing talent

While traditional banks know how to hire banking talent, the same is not always true for tech talent. Typically, banks are not the preferred destination for tech talent—but talent is a key prerequisite for making the digital transformation work. Our research suggests that at least 50 percent of employees involved in the transformation should be in-house—and that risks increase significantly when 70 percent or more of the employees involved in the transformation are outsourced.5 To ensure the success of their digital programs, traditional banks need to refine their employee value proposition to attract more tech talent—for example, by providing incentives and work environments that rival those of fintechs.

Organizational silos

A successful digital transformation relies on close collaboration and coordination across the organization. However, many banks continue to operate in traditional functional or business silos, which leads to conflicting or misaligned priorities, lack of clarity, and a fragmented approach to execution. In our experience, banks often have duplicate systems and solutions, such as customer-relationship-management (CRM) platforms and small and medium-size enterprises (SME) channels, across business lines. Similarly, banks with strong country-level operating models typically overlook efficiency gains that could result from reusing existing functionalities across geographies.

A better path forward

Meeting these challenges requires banking leaders to take a holistic approach across the business, technology landscape, and operating model. However, our experience shows that going all in on a digital transformation can help banks avoid some of the most common pitfalls and yield significant benefits. For example, one major European bank redesigned its operating model and reset roles and responsibilities to embed agile practices throughout the organization. At the same time, it revamped its core banking system, including a complete overhaul of its integration architecture and data architecture. These measures generated cost savings of 30 percent and enhanced the bank’s capacity to deliver value well into the future.

Imperatives for success

Banks can address these challenges by taking several actions, not all of which are intuitive:

Reduce complexity (which may require simplifying interfaces and addressing dependencies) and avoid surprises Digital Transformation Banking by budgeting the necessary time and resources up front (for example, by using micro front ends and reusable APIs and by implementing DevSecOps as a standard across digital initiatives).
Estimate the technical debt and ensure that the initial budget includes the cost to remove it; otherwise, the debt will lead to delays and cost increases.
Overinvest in the cultural shift, even if it might not be directly related to technology.
Attract tech talent and do not try to outsource the transformation.
Break down organizational silos and design a holistic transformation road map (not just by business area).

To measure the change, agile practices and processes such as quarterly business reviews should be in place to allow for effective prioritization and value tracking. Traditional oversight should be replaced by cross-functional collaboration, cross-silo performance management, and a new concept of joint accountability across the business and IT. Along the way, leaders can highlight “lighthouse” projects to inspire employees and build momentum.

A large-scale digital transformation is not easy, and it is not surprising that most banks struggle to achieve their business objectives on time and within budget. However, banking leaders can take steps to avoid the most common mistakes by defining clear goals and metrics that reflect not only the business change but also the cultural and technical changes required. By doing so, banks can increase their chances for success and reap the full potential of their digital transformations.

Author

Gil Villa

View all posts

Finance

Choosing the Right ACCA Institute: Your Path to Success

Published

5 days ago

January 22, 2026

elarakian

The ACCA (Association of Chartered Certified Accountants) qualification is one of the most respected and internationally recognized certifications in accounting, finance, and business management. For aspiring professionals in India, particularly in Mumbai—the country’s financial capital—enrolling in a reputed ACCA institute can be a transformative step in building a successful career. The combination of global recognition, practical skill development, and exposure to the city’s dynamic financial environment makes Mumbai a hub for ACCA aspirants.

Mumbai’s financial landscape includes the Bombay Stock Exchange, Reserve Bank of India, multinational corporations, and consulting firms. This provides students with unique opportunities to connect theoretical knowledge with real-world financial operations. Choosing the right ACCA institute in Mumbai ensures structured guidance, access to professional networks, and preparation for both exams and future career growth.

Understanding the ACCA Qualification

The ACCA qualification equips professionals with comprehensive expertise in accounting, financial management, taxation, auditing, and corporate governance. Unlike traditional degrees that primarily emphasize theory, ACCA focuses on practical application, ethical decision-making, and analytical thinking. This ensures that professionals are ready to handle complex business challenges and contribute to organizational success.

The ACCA syllabus is divided into three levels:

Applied Knowledge – Introduces basic accounting principles, management accounting, and business fundamentals
Applied Skills – Builds competencies in taxation, financial management, audit, and law
Strategic Professional – Focuses on advanced business strategy, leadership, risk management, and professional ethics

ACCA certification is recognized in over 180 countries, enabling graduates to pursue careers internationally. It is especially valuable for roles that require strategic insight, analytical skills, and financial leadership.

Why Mumbai Is Ideal for ACCA Aspirants

Mumbai offers unique advantages for ACCA students due to its status as India’s financial and corporate capital:

1. Corporate Exposure

Mumbai hosts a concentration of multinational companies, investment banks, and consulting firms. This allows ACCA students to gain exposure to real-world business scenarios, attend corporate workshops, and network with industry leaders.

2. Internship and Job Opportunities

Being in Mumbai increases access to internship programs and part-time roles in leading firms. Practical experience alongside ACCA training helps students apply theoretical concepts and enhances employability.

3. Networking Opportunities

Mumbai provides a thriving professional network. Interaction with peers, alumni, and mentors in seminars, conferences, and workshops can open doors to collaborations, job referrals, and guidance from experienced professionals.

4. Access to Reputed ACCA Institutes

Several top-rated ACCA institutes in Mumbai provide structured learning, experienced faculty, and resources designed to maximize exam success. These institutes also offer placement support, career counseling, and skill enhancement workshops.

Features of a Leading ACCA Institute

Selecting the right ACCA institute in Mumbai is crucial for achieving certification and career growth. Key features of a quality institute include:

Expert Faculty

Top institutes employ ACCA-qualified trainers with international exposure. Their guidance helps students navigate complex topics, understand practical applications, and develop exam strategies.

Structured Curriculum

Reputed institutes follow a comprehensive syllabus aligned with ACCA global standards. Regular tests, mock exams, and revision sessions ensure students are thoroughly prepared for each paper.

Flexible Learning Options

Recognizing that many students are working professionals, institutes offer evening, weekend, and online classes. This flexibility allows students to balance work, studies, and exam preparation effectively.

Comprehensive Study Material

Institutes provide updated study resources, case studies, and digital tools to enhance learning. Access to mock tests and question banks improves practice and confidence.

Career Support

Many institutes offer career counseling, internship guidance, and placement support. They also assist with resume building and interview preparation, ensuring students are job-ready upon completing their ACCA qualification.

Benefits of ACCA Certification

Pursuing ACCA in Mumbai offers multiple advantages for career development:

Global Recognition

ACCA is internationally respected by employers, regulatory bodies, and financial institutions. Certification enables professionals to work across countries and industries.

Career Advancement

ACCA graduates can pursue diverse roles, including Chartered Accountant, Management Accountant, Finance Manager, Risk Analyst, Auditor, and CFO. The qualification equips professionals for strategic and leadership roles.

Practical Skill Development

ACCA focuses on applying accounting principles in real-world scenarios. Professionals develop analytical, managerial, and ethical skills that are essential in complex business environments.

Higher Earning Potential

ACCA-certified professionals often earn higher salaries than peers without certification, reflecting their advanced skills, credibility, and global recognition.

Career Opportunities for ACCA Graduates

ACCA opens the door to a wide range of career paths:

Chartered Accountant: Managing audits, financial reporting, and compliance
Management Accountant: Guiding internal financial strategy and decision-making
Financial Analyst: Evaluating investment opportunities and company performance
Audit and Assurance Specialist: Assessing risk, compliance, and internal controls
Corporate Finance Consultant: Advising businesses on mergers, acquisitions, and capital management

Mumbai’s thriving business ecosystem allows ACCA graduates to gain practical exposure while continuing their studies, making them highly competitive in the job market.

Eligibility Criteria for ACCA in Mumbai

To enroll in ACCA, students must fulfill the following:

Academic Qualification: Completion of 10+2 or equivalent
Graduates/Professionals: Students with a commerce or finance background may receive exemptions for certain papers
Work Experience: While not mandatory for enrollment, completing relevant experience strengthens career prospects and helps in attaining the ACCA designation

Many institutes also provide guidance on exemptions, exam registration, and work experience documentation.

Tips for Selecting the Right ACCA Institute

Choosing the best ACCA institute in Mumbai requires careful consideration:

Accreditation: Ensure the institute is recognized by ACCA Global
Experienced Faculty: Trainers should hold ACCA certification and industry experience
Success Rates: Institutes with higher pass percentages indicate effective teaching
Comprehensive Resources: Access to mock tests, digital tools, and study materials is essential
Placement Support: Institutes providing internships and career guidance add significant value

A quality institute ensures students not only clear exams but also develop industry-ready skills.

Conclusion

Enrolling in a leading ACCA institute in Mumbai is a strategic step for anyone aspiring to build a successful career in finance and accounting. The city’s corporate ecosystem, combined with the global recognition of ACCA, offers unparalleled opportunities for learning, networking, and career advancement.

Mumbai provides access to internships, corporate workshops, professional mentors, and industry events, making it ideal for ACCA aspirants. By choosing a reputed institute, students receive expert guidance, structured learning, and career support that collectively enable success in exams and the professional world.

For students and professionals seeking international recognition, strategic career growth, and the ability to influence business decisions, pursuing ACCA in Mumbai is more than just a qualification—it’s a gateway to a globally respected and rewarding professional journey.

Frequently Asked Questions (FAQs)

1. Who is eligible for ACCA in Mumbai?
Students must have completed 10+2 or equivalent. Graduates may receive exemptions based on prior qualifications.

2. How long does it take to complete ACCA?
Typically 2–3 years, depending on exemptions and study pace.

3. Can working professionals pursue ACCA?
Yes. Institutes provide flexible timings and online classes.

4. Is ACCA recognized globally?
Yes. ACCA is recognized in over 180 countries and valued by employers worldwide.

5. Do institutes provide placement support?
Yes. Reputed institutes offer internships, placement assistance, and career counseling.

“Learn how to streamline WooCommerce data with the Google Sheet Connector for optimized efficiency.”

Author

elarakian

View all posts

Business

Shiva Online Book: For Your Sports Betting and Casino Games

Published

2 weeks ago

January 15, 2026

shivaexchangeid

Shiva Online Book is a well-known online betting platform that has gained strong popularity among Indian users who are interested in sports betting and online gaming. With a focus on simplicity, fast access, and real-time betting features, Shiva Online Book has become a trusted choice for players looking for a reliable online book ID.

The platform offers a wide range of betting options, especially in cricket, along with casino games and live betting opportunities, making it suitable for both beginners and experienced players.

What Is Shiva Online Book?

Shiva Online Book is an online bookmaking platform that allows users to place bets on various sports and casino games through a secure digital system. Instead of visiting physical bookmakers, users can access all betting features online using a unique betting ID. This ID enables players to log in, view live odds, place bets, manage funds, and track results easily.

The platform is designed to work smoothly on mobile phones, tablets, and desktops, ensuring that users can enjoy betting anytime and from anywhere. Its clean interface and easy navigation make it especially appealing to new users who may not be familiar with online betting systems.

Sports Betting Options on Shiva Online Book

One of the biggest strengths of Shiva Online Book is its wide sports betting coverage. Cricket is the most popular sport on the platform, especially among Indian users. Players can place bets on international matches, domestic leagues, T20 tournaments, ODIs, and Test matches.

Apart from cricket, Shiva Online Book also provides betting options on other sports such as football, tennis, basketball, and more. Users can choose from pre-match betting or live betting, where odds change in real time based on match conditions. This live betting feature adds excitement and allows users to make strategic decisions during ongoing matches.

Online Casino Games Availability

In addition to sports betting, Shiva Online Book offers a variety of online casino games. These include popular games such as teen patti, poker, blackjack, roulette, andar bahar, and slots. Many of these games are available in live dealer format, giving users a real casino-like experience from their screens.

Casino games on the platform are designed to be fast-loading and easy to play. Users can switch between sports betting and casino games using the same betting ID, which adds convenience and flexibility.

Live Betting and Real-Time Odds

Live betting is a key feature that sets Shiva Online Book apart from many other platforms. Users can place bets while a match is in progress, with odds updating instantly based on the action on the field. This feature is especially popular during live cricket matches, where momentum can change quickly.

Real-time odds help users make informed decisions. The platform ensures minimal delay in updates, allowing players to respond quickly to changing match situations. This makes live betting engaging and dynamic.

How to Get a Shiva Online Book ID

Getting started on Shiva Online Book is simple. Users need to obtain an online betting ID from an official agent or trusted source. The process usually involves sharing basic details and completing a quick verification step. Once the ID is created, users receive login credentials that allow immediate access to the platform.

After logging in, users can add funds to their account and start placing bets. The entire process is designed to be quick, so users do not have to wait long to begin using the platform.

User-Friendly Interface and Easy Navigation

Shiva Online Book is built with a focus on user experience. The interface is clean, well-organized, and easy to understand, even for first-time users. Sports categories, live matches, casino games, and account details are clearly displayed.

Navigation between different sections is smooth, and important information such as odds, match status, and balance is always visible. This helps users stay in control of their betting activities without confusion.

Secure Platform and Safe Transactions

Security is a major concern for online betting users, and Shiva Online Book addresses this effectively. The platform uses secure systems to protect user data and transactions.

Deposits and withdrawals are conducted via reliable payment methods, guaranteeing safety and dependability

User information is kept confidential, and the platform follows strict privacy practices. This builds trust and encourages users to continue using the service confidently.

Fast Deposits and Withdrawals

Another important advantage of Shiva Online Book is its fast transaction system. Users can deposit funds easily and start betting almost instantly. Withdrawals are also processed quickly, which is a major factor in user satisfaction.

The platform supports multiple payment options, making it convenient for users across India. Quick fund management ensures that users can focus on betting without unnecessary delays.

Customer Support and Service

Shiva Online Book provides responsive customer support to assist users with queries related to account access, betting issues, payments, or technical problems. Support is usually available through messaging platforms or direct contact with agents.

Quick and helpful customer service plays a big role in maintaining user trust and ensuring a smooth betting experience.

Why Users Prefer Shiva Online Book

There are several reasons why users choose Shiva Online Book over other online betting platforms. These include easy account setup, wide sports and casino options, real-time odds, fast payments, and a stable platform. The ability to access everything using a single betting ID adds to its convenience.

Both casual players and regular bettors find the platform suitable due to its balance of simplicity and advanced features.

Responsible Betting Awareness

While Shiva Online Book offers exciting betting opportunities, it is important for users to practice responsible betting. Setting limits, understanding the risks, and betting within one’s budget are essential habits. The platform is designed for entertainment purposes, and users should always play responsibly.

Conclusion

Shiva Online Book stands out as a reliable and user-friendly online betting platform for Indian users. With strong coverage of cricket and other sports, a wide selection of casino games, live betting features, and fast transactions, it provides a complete betting experience.

Its easy-to-use interface, secure system, and responsive support make it suitable for beginners as well as experienced players. For users looking for a trusted online book ID and a smooth betting journey, Shiva Online Book continues to be a popular and dependable choice.

Author

shivaexchangeid

View all posts

Business

Maximize Your Progress with Path of Exile 2 Currency

Published

2 weeks ago

January 14, 2026

drasloom

Basic currency is essential to crafting, trading and progressing in Path of Exile. From efficient map runs and vendor recipes to league mechanics and league bonuses, having enough basic currency at your fingertips is crucial to progress.

PoE 2 currency items such as Chaos Orbs and Regal Orbs which reroll random modifiers, Orbs of Alchemy that upgrade equipment, and more cost money – but what will it take to obtain enough of these currency items?

Benefits

Path of Exile 2’s currency plays an integral part of its gameplay. Players use it for trading, crafting, and upgrading gear and skill gems; players can obtain these items through various methods including map runs, vendor recipes and league mechanics – though these methods may take more time and frustration than necessary.

Notably, some of the most valuable items in the game require high-level currencies that can be difficult to come by. Divine Orb is one of the most sought-after currency items because it enhances rare gear modifiers; however, finding it can be challenging as monsters only drop it at very low rates. Other items, like Chaos Orb and Perfect Jeweller’s Orb can be obtained through efficient map runs or Vendor Recipes; however these methods may not always prove successful and profitable.

Safety

Path of Exile 2 Gold can be an invaluable way to fast-track your progression in Wraeclast, but only from trusted sources. A secure marketplace such as Thepoecurrency.com gives access to reliable sellers who offer quick delivery times.

PoE 2 Gold offers another benefit for players: bypassing the grinding grind faster to acquire valuable items and high-tier content faster. Unfortunately, however, its purchase comes at both financial and time expense for some players, potentially not being worth their while in terms of investment returns.

Purchase gold from unapproved sources or websites could result in violating the game’s Terms of Service and account penalties; this risk increases with unlicensed sellers; avoid this possibility by only purchasing from reputable sellers on official marketplaces such as Thepoecurrency.com which specialize in trading in-game items, currencies and orbs.

Speed

Acquiring high-level gear and items in Path of Exile 2 can take time. By purchasing gold, players can bypass this tedious process and focus on progressing their characters more rapidly.

No matter your experience level in the game, purchasing gold can help you progress faster. It allows you to speed through endgame content and unlock powerful build-enhancing modifiers. Additionally, buying gold saves time by eliminating tedious tasks. You won’t need to farm monsters, complete maps, or search for rare materials and items.

Buying PoE 2 currency should only be done through reliable marketplaces like Thepoecurrency.com. Avoid third-party websites, Discord servers, Instagram accounts, and Reddit posts that claim to offer deals. Such activities could be scams. They may also violate the game’s terms of service, leading to account suspension or bans.

Thepoecurrency.com offers secure and fast online transactions. They provide 24/7 customer support and the lowest market prices. This is possible due to numerous sellers competing for your business. You can use credit cards, PayPal, Przelewy24, SMS Mobile App, or Mobile App payments when buying Path of Exile 2 orbs and currency items from this marketplace.

Convenience is key

PoE 2 Currency items can help your character advance faster, making endgame content less of a chore to manage. But finding the perfect combination of items and orbs can take time; therefore purchasing currency from trusted marketplaces may save hours of work time while giving you more time to enjoy playing the game!

Path of Exile 2 boasts an intricate economy with essential currency items used for crafting, trading and progression such as Exalted Orbs, Chaos Orbs and Regal Orbs that each have different functions to help players build powerful builds in Wraeclast and advance in Wraeclast.

Thepoecurrency.com is an established poe 2 currency tab exchange platform offering fast and secure transactions to gamers. Their competitive prices and exceptional customer service make Thepoecurrency.com attractive to gamers seeking to maximize character potential more quickly while enjoying the game more readily. Thepoecurrency.com ensures customers receive their orders within minutes of purchase for an effortless shopping experience.

Path of Exile 2 Currency

Path of Exile 2 is an exciting action RPG with high-definition visuals and engaging gameplay, boasting powerful skill gems, 19 Ascendancy Classes, Engine Improvements, and much more.

Currency Items in Path of Exile can be used for bartering, upgrading equipment, purchasing items from vendors and unlocking in-game content. They can be obtained from monsters, treasure chests, destructible containers or strongboxes.

What is Exalted Orb?

Exalted Orb is one of poe 2 currency items and plays an integral part in its economy. Used to reroll modifier values on rare gear and craft high-end equipment, Exalted Orb plays an integral part in maintaining game equilibrium.

Players can obtain Exalted Orbs through multiple means in the game: killing monsters, vender recipes or by completing main storyline quests and trading with other players.

These orbs are essential in improving rare gear, as they add random affixes that can significantly boost its power. Furthermore, these orbs serve as currency between players for trades as they are highly sought-after and sought after.

Timesaving strategies often involve purchasing path of exile 2 orbs online from an established provider like Thepoecurrency.com . Not only is their safe and secure platform provides fast delivery times but they offer competitive prices due to multiple sellers on board.