CASE STUDY
A new approach for modernizing payments in banking
Nearly all older cities boast financial districts, often near ports or other historic commerce hubs. Banks are essential to commerce, so they had to be where the action was. Retail banks tended to cluster in wealthier areas for similar reasons.
The digital economy's rise has greatly diminished - if not entirely eliminated - the value of having physical office spaces near commercial centers. Commerce today occurs everywhere and anytime, thanks to the internet and digital technology. A basic principle still holds true for banks despite the changes the digital revolution has wrought: They must be where the action is. That means they must be equipped to facilitate transactions quickly and securely in a digital environment.