Bundesbank warns about digital challenges for German banks
Report stresses the importance of reinforcing cyber security processes
The Deutsche Bundesbank warns rapid technological innovation is posing challenges to German banks.
The central bank’s monthly report highlights how digitalisation has intensified competition in financial services. It has boosted customer expectations, which has reinforced pressure on banks to adapt over the last few years.
In this context, the wider adoption of artificial intelligence and cloud computing services has accelerated the sector’s digitisation. As ever more transactions and
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