Is Your Bank Really Digital?

For many banks, their strategic priorities include enhancing their digital capabilities to improve the client experience and investing in advanced technologies like AI to improve automation and operational efficiencies. If there is one process within banks that has changed the least while everything around it has changed the most, it is audit confirmations. Over time, the process moved from stacks of paper and certified mail to email threads with PDFs attached, to today's patchwork of portals and point solutions. On the surface, that looks like progress. In practice, most banks have simply moved the same manual, disconnected process onto a screen. That distinction matters more than it might seem, because it's the root of a conversation happening in bank operations, audit, and compliance departments right now: are we actually digital, or have we just digitized the paperwork?