The hype turns into action: the banking industry is now in the midst of realizing the digital transformation much talked about for so many years. With a very strong customer portfolio and solid experience in the sector, Itera has established "Smart Banking" as a separate business area to increase our ability to identify and understand the drivers that affect our customers.
We believe that new challengers in FinTech and BigTech, artificial intelligence and Open Banking will become increasingly important to the banking industry in the future. In addition, regulatory changes have proven to be a catalyst for new fintech companies and innovative digital services. We think we've only seen the beginning.
Banks need to keep up with digital developments, tech-savvy challengers and regulatory requirements, while maintaining and modernizing technical debt and legacy systems. We believe smart application of technology and data is the key to succeeding in creating world-class user experiences and ensuring high efficiency in the banking market of the future.