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The Dawn of Digital Banks

Since technological advancements are redefining industries, how crucial is digital transformation for banks? The answer lies in the staggering statistics that underscore the rapid evolution of banking towards digital platforms. As traditional banking models struggle to keep pace with the demands of the digital age, Digital Banks are emerging as a beacon of innovation and efficiency.

The Rise of Digi Banks

Digital banks, or Digi Banks, are financial institutions that operate entirely online without physical branches. This transformation is not just a trend but a necessity driven by customer demand for convenience, speed, and enhanced user experiences. The global digital banking market was valued at $12.34 billion in 2021 and is projected to reach $30.87 billion by 2026, growing at a CAGR of 16.3% .

Statistical Landscape of Digital Transformation in Banking

  1. Global Adoption: As of 2023, over 70% of banking customers globally use some form of digital banking services .
  2. Customer Preferences: 60% of customers prefer to manage their finances online rather than visiting a physical branch .
  3. Mobile Banking Growth: Mobile banking users are expected to exceed 3.6 billion by 2024 .
  4. Cost Efficiency: Digital banks can operate at nearly one-third of the cost of traditional banks .
  5. Transaction Volume: Digital transactions in the banking sector have increased by 20% annually since 2017 .
  6. User Engagement: On average, digital bank users interact with their bank 20-30 times per month, compared to 3-4 times for traditional bank users .
  7. Security Enhancements: Over 85% of digital banks have implemented advanced AI-driven fraud detection systems .
  8. Loan Processing Time: Digital banks can process loans up to 60% faster than traditional banks .
  9. Customer Retention: Banks with digital capabilities see a 15% higher customer retention rate .
  10. Revenue Growth: Banks that have adopted digital transformation see an average revenue growth increase of 5-7% .
  11. Operational Efficiency: Digital transformation can lead to a 20% increase in operational efficiency for banks .
  12. Investment in Technology: Banks are expected to invest over $297 billion in technology by 2024 .
  13. Digital Wallets: The use of digital wallets is projected to increase by 50% in the next five years .
  14. Remote Work: 75% of banking employees are expected to work remotely by 2025 due to digital transformation .
  15. Customer Satisfaction: Digital banks report customer satisfaction rates of over 90% .

The Impact of Digital Transformation

The transition to digital banking is not merely about adopting new technology but about fundamentally reshaping the banking experience. Digital transformation enables banks to offer personalized services, streamline operations, and reduce costs. For instance, the implementation of AI and machine learning helps in predictive analysis, offering customized financial advice and detecting fraudulent activities in real-time.

This graph illustrates the myriad benefits of digital transformation in the banking sector, highlighting key areas such as cost reduction, increased customer engagement, and enhanced operational efficiency.

InfoTech Group: Pioneers in Digital Transformation

InfoTech Group has been at the forefront of digital transformation in the banking sector since its inception in 1995. Why should banks choose InfoTech Group for their digital transformation journey? Here’s why:

  • Strategic Guidance: Our team of experienced consultants provides strategic guidance, helping banks develop a roadmap to achieve their digital goals.
  • Holistic Approach: We consider all aspects of the business, including people, processes, and technology, to design comprehensive transformation initiatives.
  • Technology Expertise: Leveraging extensive knowledge in cloud computing, AI, IoT, and data analytics, we recommend and implement the right digital solutions.
  • Measurable Results: We focus on delivering intuitive and user-friendly interfaces, maximizing productivity and ensuring a smooth user experience.
  • Ongoing Support and Maintenance: We are committed to delivering measurable results by establishing key performance indicators and performance measurement frameworks.

Case in Point: UBL’s Digital Transformation

United Bank Limited (UBL), a domestic systemically important bank in Pakistan, partnered with InfoTech Group to enhance its technological infrastructure. In a significant move, InfoTech Group facilitated UBL’s transition from Microsoft Team Foundation Server (TFS) to DevOps. This shift marked a substantial enhancement in UBL’s software development lifecycle, streamlining operations and bolstering efficiency and agility.

The migration to DevOps empowered UBL with real-time insights into project statuses, improved collaboration among development teams, and expedited time-to-market for new features and updates. This transition not only catalyzed operational efficiency but also instilled a culture of continuous improvement and innovation within UBL, enabling the bank to swiftly adapt to evolving market dynamics and deliver unparalleled customer experiences.

This landmark achievement underscores InfoTech Group’s prowess in orchestrating digital transformations and reflects its steadfast commitment to catalyzing innovation within the banking sector.


The future of banking lies in embracing digital transformation. As Digi Banks continue to revolutionize the financial landscape, partnering with a trusted expert like InfoTech Group ensures a seamless and successful transition. Our strategic guidance, holistic approach, and technology expertise make us the ideal partner for banks looking to thrive in the digital age. Join us in shaping the future of banking.