The Bank in Your Pocket: Meeting Consumer Demand for Secure, On-the-Go Financial Services

As more banking executives strive to accommodate consumers across all channels, shadow IT practices create major cybersecurity risks. A proprietary solution is critical to maintaining deep client relationships while ensuring information security — and meeting the demands for the future of digital banking.

The Rise of Shadow IT in Banking

Shadow IT — the use of unofficial technology systems, applications and devices across an organization — has become more common in recent years as frustrated employees seek modern solutions not yet vetted or approved by IT departments. Research from the Everest Group found that 67% of end-users or teams have introduced their own collaboration tools into their organizations.

Regaining Visibility

Shadow IT is usually a symptom that existing systems aren’t meeting users’ needs. But forbidding shadow IT practices without providing an alternative will simply cause employees to become more stealthy in their use of unsanctioned tech. After all, they’re simply trying to do their jobs better. Instead, financial institutions should look for an inclusive solution that provides the communication and collaboration tools employees need to keep up with client demand.

The Digital Branch

Beyond the security benefits, full-scale digital branches are the future of digital banking. These on-the-go solutions enable customers to access the full banking experience from anywhere, simply by pulling a smart device from their pocket and making a few taps in an app.

Karrtik Rao



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