At the SIBOS event, Mr. Babu Nair, Founder & MD, Financial Technology Frontiers hosted an insightful conversation on the digital transformation within the banking sector. The session featured Mr. Richard Southey, the Chief Digital and Experience Officer of ABSA group, who emphasized the significance of a bank’s digital journey from both an internal and customer-centric perspective. Delving deep into topics such as data governance, generative AI’s impact on banking, and the challenges of legacy systems, Mr. Southey underlined that digital transformation isn’t a mere trend, but a necessity. Additionally, he highlighted the crucial role of consultants in shaping a bank’s digital strategy, while asserting that decision-making should remain internal. The discussion offered a comprehensive view of the banking industry’s evolving landscape.