Banks have traditionally been cautious when adopting modern technology, and for good reason: legacy systems, regulatory compliance demands, data security concerns, and the sheer scale of operations make changes complex and risky. Today, numerous digital transformation initiatives demonstrate that innovation is not only possible but essential for improving operational efficiency, meeting customer expectations, and remaining competitive.
This article outlines real-world examples of successful digital transformation in the banking industry. We’ll highlight the solutions adopted, strategies applied, and business outcomes achieved, showing what’s possible when digital innovation meets execution.
Key takeaways:
- Legacy system modernization is a critical foundation. Retiring outdated applications unlocks scalability and prevents performance bottlenecks.
- Cloud migration drives flexibility and cost control. Leaders like JPMorgan Chase show that moving data and applications to the cloud can keep infrastructure costs flat even as compute volumes grow significantly.
- Mobile-first experiences are now a competitive differentiator. High-rated, feature-rich apps like IKO and BBVA’s mobile platform directly boost customer satisfaction, digital sales, and retention.
- Regulatory compliance must be built into the transformation strategy. Solutions like PSD2 connectivity hubs demonstrate that compliance infrastructure, when done right, can become a strategic asset connecting hundreds of institutions.
JPMorgan Chase
JPMorgan Chase is one of the largest banks in the United States, operating in more than 100 countries. In recent years, the company has actively transformed both its customer-facing services and back-office operations through digital technologies, setting a high standard for innovation among traditional financial institutions.
Cloud-first strategy
Cloud adoption became a central pillar of the bank’s digital transformation. By migrating a significant share of infrastructure and applications to cloud environments, the organization improved scalability while maintaining tight control over infrastructure spending.
| Before | After |
|---|---|
| The majority of data and applications were hosted on on-premises infrastructure | 70% of data and 50% of applications migrated to public or private cloud |
| Limited scalability without proportional cost increases | Scalable infrastructure with plans to move 75% of data and 70% of applications to the cloud |
| Infrastructure costs expected to rise with growing workloads | Despite a 50% increase in compute and storage volumes, infrastructure costs remained largely flat |
AI/ML digital solutions
While banks are still experimenting with AI/ML in isolated processes, JPMorgan Chase has taken a broader, more strategic approach. The company has made significant investments in these technologies to streamline operations, improve employee and customer experiences, and strengthen its competitive advantage.
Its latest large-scale AI initiative, LLM Suite, is a set of generative AI tools that help the bank’s staff securely use large language models in their daily work. By 2024, more than 200,000 bank employees were using the platform, with key applications including:
- Intelligent automation. LLM Suite enables employees to automate time-consuming tasks and serves as a virtual research assistant, delivering fast, context-specific answers to questions about internal systems.
- Wealth management advisory. Coach AI, a specialized tool within the LLM ecosystem, helps the bank’s wealth and portfolio management teams provide more accurate, personalized financial advice. According to the Asset and Wealth Management department, Coach AI contributed to a 20% increase in its gross sales between 2023 and 2024.
- Software development. The bank’s AI-powered coding assistant supports its 63,000-strong technology workforce and has increased engineering productivity by up to 20% since its launch.
- Customer support. AI tools also help JPMorgan’s call center employees quickly retrieve service information, summarize call transcripts, and access key insights.
PKO Bank Polski
With a strong presence across Central and Eastern Europe, PKO Bank Polski serves more than 12 million customers through a network of around 1,000 branches and a broad range of digital channels. The bank offers a comprehensive portfolio of services, including personal and corporate banking, investment solutions, and insurance products. Ongoing investments in technology support its efforts to expand digital services and modernize banking operations.
IKO mobile app
The IKO mobile banking app has become a cornerstone of PKO Bank Polski’s digital transformation efforts. Launched over a decade ago, it has continuously evolved to meet changing customer needs. Today, it offers a variety of features, including online currency exchange, personal finance and credit management tools, QR code transactions, and AI-powered voice assistance.
The PKO Bank Polski mobile app has earned international recognition and consistently high user ratings, reflecting its strong functionality. Several factors contribute to its popularity:
- Award-winning mobile banking experience. Retail Banker International named it the world’s best mobile banking app for two years in a row.
- High customer satisfaction. The app holds an impressive average rating of 4.7 out of 5 on the App Store and Google Play.
Comprehensive and intuitive features. The app provides seamless access to financial services, making everyday banking simple and convenient.
iPKO biznes
iPKO Biznes is PKO Bank Polski’s mobile banking app designed specifically to meet the complex needs of corporate clients. It enables business executives and financial managers to manage company finances efficiently and securely, anytime and anywhere.
The app offers a wide range of functionalities, such as:
- mobile authorization for secure transaction approval
- comprehensive transaction management
- real-time account monitoring
- access to detailed financial reports.
iPKO Biznes has been well received by users, earning a 4.5 rating in a recent customer satisfaction survey, reflecting its reliability, usability, and alignment with the demands of modern business banking. Beyond these customer-facing applications, PKO Bank Polski also leverages advanced backend solutions, such as a transaction data enrichment platform, to give customers clearer, real-time insights into their spending.
Data Hub
To support its growing digital services, PKO Bank Polski addressed performance and scalability challenges in its legacy systems by developing the Data Hub in partnership with Neontri. This offloading system replicates core banking data in near real-time, reducing infrastructure load while ensuring high availability.
| Before | After |
|---|---|
| Legacy mainframes struggled with the growing volume of read-only requests from digital platforms | Data Hub captures and replicates data changes from the core banking system in near real-time, reducing the load on infrastructure |
| High maintenance costs and limited scalability | Flexible system expansion |
| Performance bottlenecks and risk of failures | Distributed architecture ensures high availability and fault tolerance |
BBVA
Banco Bilbao Vizcaya Argentaria (BBVA) is a century-old global banking and financial service provider. Founded in Spain, it now serves over 77 million customers in more than 25 countries, including Mexico, Argentina, and Turkey.
BBVA was one of the first banks in Europe to launch a marketplace of its application programming interfaces (APIs), taking an early lead in open banking.
ADA platform
The ADA (Analytics, Data, AI) platform is a key part of BBVA’s digital transformation strategy. Built on AWS, it replaces older, fragmented systems with a unified cloud-based infrastructure that brings together data management, analytics, and AI capabilities.
Key benefits of the ADA platform:
- Unified cloud infrastructure: ADA replaces fragmented legacy systems with a single, scalable platform.
- Massive data handling. It processes over 4 petabytes of data and manages 40,000 databases daily.
- Improved performance. The platform reduces latency in analytics environments by up to 94%.
- AI/ML enablement. It supports advanced AI applications, including fraud detection and personalized banking services.
- Scalable and flexible. Enables BBVA to dynamically scale resources to meet evolving business needs.
AI-powered mobile banking app
BBVA has taken a major step forward in digital banking with the launch of its revamped mobile app. The new version introduces several advanced features:
- Blue, BBVA’s virtual assistant, has been upgraded with AI to handle natural language questions and provide instant customer support.
- AI-powered financial coach gives personalized advice by analyzing vast amounts of customer data (income, expenses, savings, etc.)
- Digital wallet integration provides quick access to cards and supports seamless contactless payments.
- Enhanced security. With user permission, the device’s camera can detect it when more than one face is viewing the screen. If this is the case, the app automatically hides sensitive information like balances and transactions.
BBVA’s digital sales model
The BBVA’s new digital sales model is a structured, end-to-end approach aimed at simplifying customer acquisition and boosting engagement through digital channels. Its key elements include:
- AI-powered onboarding, allowing customers to open accounts within minutes via mobile.
- Personalized product recommendations based on AI analysis of each customer’s financial situation.
- Data-driven decision-making is enabled by deep insights into customer behavior and preferences.
This model has delivered measurable results: as of 2023, 70% of BBVA’s sales happened through online channels, and 65% of new customers joined digitally. It also supports operational efficiency, contributing to a cost-to-income ratio of 41.7%, a standout figure in the European banking sector.ed measurable results: as of 2023, 70% of BBVA’s sales happened through online channels, and 65% of new customers joined digitally. It also supports operational efficiency, contributing to a cost-to-income ratio of 41.7%, a standout figure in the European banking sector.
Lloyds Banking Group
Lloyds Banking Group is one of the leading financial organizations in the UK, serving approximately 30 million customers through well-known brands such as Lloyds Bank, Halifax, and Bank of Scotland. Since 2021, the group has been driving a large-scale digital banking transformation, investing over £4 billion (about $5.42 billion) to upgrade its technology and operations.
Lloyds’ tech transformation
Lloyds has decommissioned over 500 legacy applications and migrated around 46% of its digital tools to cloud environments. It also implemented a next-generation core banking engine that now manages around £1 billion ($1.35 billion) in deposits. This allowed the group to simplify its IT infrastructure, achieve significant cost savings in the tech domain, and enhance business agility.
AI initiatives
Lloyds is actively exploring how AI can improve various areas of its business, from customer service to fraud detection. It partnered with Google Cloud and migrated to Vertex AI. This helped them launch over 80 new ML use cases and deploy more than 18 generative AI systems into production.
DBS Bank
Singapore-based DBS Bank is one of Asia’s leading financial service providers. It operates in 19 markets, including China, India, and Indonesia, and serves around 19 million customers. DBS began its transformation in 2014 with the goal of becoming “digital to the core” and has since launched a series of strategic initiatives to adopt new technologies.
ADA and ALAN platforms
ADA and ALAN are two key solutions that have played a major role in making DBS one of the strongest examples of digital transformation in banking. ADA is DBS’s internal data platform, serving as a single source of truth across the organization. ALAN is the bank’s standardized AI protocol and knowledge hub, providing teams with access to past use cases, datasets, and ML techniques.
This setup enables DBS engineers to develop and deploy AI models much faster. As of 2024, the bank had scaled to over 800 models and 350 use cases.
AI-powered personalized finance
With support from its ADA and ALAN platforms, DBS uses AI to deliver highly personalized experiences. By analyzing more than 15,000 data points per user, the bank generates smart recommendations to help customers make better financial decisions. These might include reminders about upcoming payments to avoid fees or suggestions for investments that match a customer’s risk profile.
In Singapore alone, over 3.5 million customers receive around 30 million of these personalized recommendations every month.
Faster fraud detection
DBS uses AI to strengthen its fraud detection efforts, leveraging advanced models that:
- are trained on over 300 features and 10 data sources
- can flag high-risk activity in just 25 ms
- prevented 17% more scam-related losses through faster, data-driven decisions
Early credit warning
AI also assists DBS with credit risk management. In 2022, the bank detected over 95% of SME loans likely to default well in advance, at least three months before those businesses showed signs of financial trouble. Thanks to early warning, DBS took proactive steps that helped avert risk for more than 80% of identified customers.
Citi
Citi is a leader in the financial services industry with a successful digital transformation strategy. In 2021, the bank launched a comprehensive modernization and technology adoption program to cut costs and improve efficiency.
Citi’s infrastructure modernization
IT infrastructure modernization is the foundation of Citi’s digital transformation efforts. Since 2022, the bank has retired more than 1,250 legacy applications. The aim was to simplify the technology stack, reduce operational complexity, and improve data governance.
In 2024, it started migrating multiple applications to Google Cloud. This move is expected to help the bank streamline workflows, refine its products, and meet high-performance computing demands, especially in Citi’s Markets business, where millions of computations are processed daily.
AI-powered digital tools
The bank has recently made Citi Assist and Citi Stylus available to around 140,000 employees in eight countries. These solutions help staff navigate internal policies and summarize documents, enabling them to work more productively.
Citi has also embedded AI into its software development process. In particular, the bank has used generative AI to power over 220,000 automated code reviews.
TD Bank
Headquartered in Toronto, TD Bank Group serves over 10 million customers in Canada and an additional 6.5 million in the United States. The bank has developed nearly 50 AI solutions across various business lines and filed more than 450 AI-related patent applications, demonstrating its strong commitment to innovation and advanced technology in banking.
AI-driven mortgage pre-approval model
In August 2023, TD launched an AI model to speed up mortgage and home equity line of credit (HELOC) pre-approvals. For straightforward applications, the system delivers decisions within seconds of submission, freeing up underwriters to focus on more complex cases.
Since its rollout, thousands of customers have benefited from faster, more seamless mortgage experiences, reinforcing TD’s reputation as a client-centered financial services provider.
Generative AI for frontline support
TD developed a generative AI virtual assistant to streamline contact center operations and enhance customer service. The early testing has shown promising results, including a 20% reduction in hold times.
The tool supports frontline staff by:
- providing quick, accurate information in a conversational format.
- summarizing responses in natural, conversational language.
- including links to relevant TD policies and procedures.
Neontri: Driving banking transformation with 10+ years of expertise
Neontri is the strategic engine behind some of the industry’s most successful digital transformations. We don’t just build apps; we modernize the core of financial institutions to handle massive scale and industry-leading performance.
With over 12 years of experience, our team has delivered 400+ successful projects across banking, fintech, and enterprise systems. Our track record demonstrates our capability to execute complex digital transformation initiatives:
- #1 Mobile app worldwide. We co‑created the IKO app for PKO Bank Polski, serving 8 million active users, processing 32 million daily interactions, and 361 transfers per minute.
- High‑load data offloading. Developed systems that offload 70 million records daily and support 10 million data retrievals per day, enabling near‑real‑time performance and reduced core system strain.
- PSD2 connectivity at scale. Built a regulatory PSD2 hub connecting 300+ banks with third‑party payment providers.
- Proprietary app development framework. Neontri’s Enterprise Application Framework (NEAF) helps accelerate mobile banking app delivery by up to 30% faster compared with conventional development.
Final thoughts
The scope of digital transformation differs from one bank to another, depending on their technology maturity, strategy, and goals. But one thing is clear: to stay competitive in today’s financial industry, continuous innovation is a must.
Ready to future-proof your organization? Let’s discuss how Neontri can support your digital transformation projects.
FAQ
How can digital transformation strategies be adapted for banks of different sizes?
Medium institutions typically balance in-house development with external partnerships, using microservices architecture and cloud solutions to stay flexible, while smaller banks may prioritize phased, high-impact initiatives.
What criteria should executives use when selecting technology partners for digital transformation?
Executives should choose vendors knowledgeable in global financial regulations who can provide dependable and forward-thinking solutions, offer comprehensive post-deployment support, including 24/7 monitoring, and whose culture and values align with the organization’s principles.
How does Neontri support banks through regulatory compliance and legacy system integration during transformation?
Our team builds solutions that turn complex regulatory requirements into secure, scalable infrastructure. For example, Neontri partnered with KIR to build a hub connecting 300 banks in response to PSD2. For legacy environments, Neontri develops offloading solutions such as Data Hub, which captures and replicates data changes from core banking systems in near real time, reducing infrastructure strain and improving scalability.
How does Neontri tailor its solutions to different bank sizes, regions, or levels of technology maturity?
Neontri takes a customized approach, working closely with each bank to understand their pain points and strategic objectives, tailoring solutions to align with their specific goals. With a deep understanding of the financial sector, we deliver solutions that integrate seamlessly with existing systems, empowering banks to unlock new revenue streams and streamline processes.
What is the typical engagement process for a new client starting a digital transformation project with Neontri?
Engagements typically begin with a discovery phase to assess the bank’s needs, followed by solution design, phased implementation, and long-term maintenance support. Neontri fosters open communication and collaboration throughout the process, and our experts are available to address any concerns and provide ongoing assistance to ensure a seamless experience.
