Opening Remarks from Bloomberg’s The Year Ahead: Next Generation Banking

The video discusses the challenges banks will face in 2021, including low interest rates and increased non-performing loans. It emphasizes the need for digital transformation to compete with big tech companies like PayPal. Operational resiliency is crucial, requiring banks to address technical debt and integrate legacy systems with cloud solutions. Migrating workloads to the cloud is essential for improving customer experience and reducing costs. IBM offers cloud solutions tailored for financial services, ensuring compliance and security. The video concludes with key themes for the future of banking, focusing on technology adoption, cloud strategy, and data security.

What are the major challenges that banks are expected to face in the year ahead?

How are banks responding to the competition from big tech companies like PayPal?

What does operational resiliency mean for the banking industry?

What is the significance of migrating workloads to the cloud for banks?

What key themes are being addressed in the current agenda for the banking industry?