In a period of nine months, between December 2022 and August 2023, not only was the grammar and syntax of DPI created, but a suggested framework for DPI was also accepted by the G20 member states.
The use of technology for inclusion is a concept that has existed for a long time. What is new is that, for the first time, a framework technology, governance, and the role of communities has been agreed upon multilaterally.
The year 2024 promises to be a pivotal moment in the ongoing evolution of the digital landscape. The developments of 2023, marked by technological advancements, changing customer behaviours due to economic uncertainty, tweaks to regulatory requirements, and competitive pressures, have served as a stepping stone for organizations in crafting their digital transformation strategies for 2024.
To secure a competitive edge, organizations must prioritize agility and innovation. Furthermore, data-driven decision-making, AI integration, cybersecurity enhancements, and sustainable practices will be pivotal in shaping successful digital transformation strategies for the year ahead and beyond.
A digital ecosystem is a network of interconnected companies or products. Today businesses are recognizing the benefits of partnerships and connectivity. All top companies in the world have a digital ecosystem in place. They build networks of connected products and partner with other companies, sharing resources and expertise throughout their ecosystem. Even partnering with one other company will help increase your customer base, brand reach, access to resources, like software infrastructure, and more.
This story is from the May 2024 edition of BANKING FINANCE.
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This story is from the May 2024 edition of BANKING FINANCE.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
'Deep Fake' - an emerging risk for Banking & Financial Sector
Deepfake KYC fraud is a growing concern in India, where fraudsters leverage AI-generated deepfake videos and images to bypass Know-Your-Customer (KYC) verification processes. This has significant implications for financial institutions, fintech companies, and other organizations that rely on KYC to verify the identity of their customers.
RBI CIRCULAR
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ICICI Bank partners with PhonePe to offer instant credit on UPI
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