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Banks are striving for digital innovation but regulatory constraints, data security and privacy concerns, integration challenges, and the high costs of enabling change prevent 70% from achieving their transformation goals. Considering the speed that technology is evolving, the alternative of standing still isn’t an option.  How can banks cross the threshold into a digital future to enhance experiences, improve operational efficiency, and stay ahead? Success is the result of strategy, skill, collaboration and, above all, the right platform foundation. It’s possible, and we’ll show you how. How one bank broke the mold  Access Bank is a leading full-service bank with more than 600 branches and 60 million customers worldwide. Last year, the organization successfully moved to a flexible, cloud-based foundation that unlocks AI-powered solutions like conversational IVR, voice biometrics, call back assist, and real-time speech analytics to™ accelerate process handling, create more personalized and proactive care, and enrich agent experiences. The company now supports open banking, a rapidly growing business model that involves the integration of open APIs to enhance experiences and foster innovation. The bank has built a new chatbot from scratch that includes 13 self-service workflows and the ability to seamlessly escalate to a human agent if needed. Gamification, enhanced reporting, and automated quality management have changed the game for supervisors in terms of agent retention, workforce management, and overall productivity. As a result, the bank’s Customer Satisfaction (CSAT) score increased from 53% to 64% and its Customer Effort Score (CES) improved from 68% to 75% from 2022 to 2024. But that’s just the beginning: their voice response time improved by 80%, case resolution improved by 20%, and abandoned calls dropped by 22%. Overall, the bank’s digital channel perception CSAT improved from 63% in 2022 to 80% in 2024. Want similar results? You need Avaya Experience Platform Avaya Experience Platform™ (AXP) empowers banks to accelerate transformation and sustain business growth with a unified digital platform designed to deliver exceptional experiences. It’s not just another standalone CX product – it’s a comprehensive cloud-based solution that adapts seamlessly to any IT environment. Whether you’re integrating on-premises and cloud-based services, combining private and public cloud solutions, or looking to expand, integrate, or consolidate, AXP is uniquely equipped to meet your needs. It excels in enabling innovation by enhancing and building upon existing investments. Here are five ways AXP helps banks unleash their innovative potential: Seamless digital access: Integrate and manage traditional and digital channels including voice, SMS, chat, AI-powered self-service, and virtual agents seamlessly to provide a consistent banking customer experience. Customer journey orchestration: Create a seamless customer journey that ensures a smooth and personalized experience across all touchpoints, regardless of how many systems you have or where they live (on-prem, private cloud, hybrid cloud, or public cloud).  Connected employee: Banking agents have more on their plate than ever and often lack the right tools for handling them, driving one of the highest turnover rates in the customer service industry.  AXP allows banks to streamline the agent experience with tools that unify communication channels and workflows to enhance efficiency and reduce workload.  Advanced fraud detection: It’s no secret that fraud banking incidents are rapidly increasing. AXP enables predictive analytics and real-time data for identifying fraudulent or potentially fraudulent activity faster, plus proactive notifications across multiple channels to contain mole hills before they become mountains.  Security biometrics: Imagine if your customers could be authenticated in seconds each time they contacted your bank, even for more complex processes like applying for a loan or credit card, with full regulatory and industry compliance. AXP makes this possible with a simple plug-in offered by one of Avaya’s third-party partners, Journey.The capability can also save millions by reducing interaction- and fraud-related costs. Three reasons to select AXP for your bank’s digital transformation  1. Unlock your full business potential with the most powerful AI platform See what your company can do with unlimited access to AI, from automation and self-service to virtual assistants and security biometrics. AI-enhanced workflow orchestration, advanced routing, seamless transfers, and more…the sky’s the limit. 2. Choose your own journey Innovate your way with full control over your transformation journey. Bridge capability gaps and step into the future of digital banking while optimizing existing strategic solutions that work well for your organization.   3. Empower your trusted solution with cloud capabilities Fortify your trusted foundation with the power of cloud. On average, AXP users boost customer conversion by 65% and CES by 40% with 5% higher EBITDA. Learn more about AXP for digital banking. source

Overview New Aim Chief Digital Product Officer Carrie Hu on being named Next CIO winner as part of CIO50 Australia, how she and her team are developing new platforms to support e-commerce, the key things needed to get buy-in for new initiatives, and how she’s generating interest in STEM careers through Inspiring Girls Australia. Register Now source

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Another critical focus area is the development of human capital. Saudi Arabia has prioritized the creation of a highly skilled cybersecurity workforce to support its growing digital economy. Through partnerships with global tech firms and academic institutions, the Kingdom is investing in cybersecurity education, certification programs, and specialized training. By equipping its citizens with the knowledge and skills to identify, mitigate, and respond to cyber threats, Saudi Arabia is building a talent pool capable of addressing the ever-evolving challenges of the digital age. International cooperation is also central to Saudi Arabia’s cybersecurity strategy. Understanding that cyber threats transcend national borders, the Kingdom actively collaborates with other countries and global organizations to share threat intelligence, best practices, and resources. Through these partnerships, Saudi Arabia is contributing to the development of global cybersecurity standards and policies, reinforcing its role as a key player in the international cybersecurity community. The Kingdom’s Vision 2030 is also a driving force behind its cybersecurity efforts. As part of its broader initiative to diversify its economy and reduce dependence on oil, Saudi Arabia recognizes that a secure digital infrastructure is critical to fostering innovation, attracting investment, and building trust in its growing tech sector. With cybersecurity at the forefront of its Vision 2030 goals, Saudi Arabia is positioning itself as a leading digital economy, capable of harnessing the power of emerging technologies while mitigating potential risks. source

A data strategy requires a culture  In recognition of Peter Drucker’s adage “culture eats strategy for breakfast,” a corresponding culture is also an essential prerequisite for a successful data strategy. (Corporate) culture encompasses the intangible foundations of an organization’s creative achievements.  Regarding data culture, for example, the question of how federal structures are designed arises: Does an organization tend to emphasize central responsibility or local responsibility? Do federal levels also correspond to hierarchical levels, i.e. are decisions escalated through management or are competent committees (with decision-making authority), put together differently? How is the decentralized competence of the domains balanced in comparison to centrally provided platforms that are to be used with the shortest possible learning curve for users from the domains, but which have to be operated at considerable expense?  Moving step by step to the ‘North Star’  Companies that are rethinking their data strategy should develop a North Star but then proceed in a very pragmatic way. The North Star represents the desired end state: Do you want to increase efficiency, improve products or services based on insights from existing data or open up new business areas? If the goal of a data strategy and corresponding initiatives is not clear, then the realization is doomed to failure. Only when the direction is clear can practically realizable steps lead to success.  The organization can be carefully modified, for example, to establish federal governance structures, implement central control of the top ontology layer, and adapt and improve it in interaction with the domains. The domains must be empowered to independently implement data products, with a central definition of the policies that must apply to all, for example with regard to identity and access management. And here, in the creation of a platform — planned or emergent because of only loosely coordinated initiatives to reduce communication overheads — the data strategy approaches the classic IT strategy, particularly concerning cloud architectures.  source

Millions of missed calls While the CrowdStrike outage was huge, it was dwarfed in sheer numbers by a February service interruption at AT&T Mobility, affecting 125 million mobile devices across the US. The outage, lasting more than 12 hours, prevented about 92 million calls from being completed, including 25,000 911 calls, according to the US Federal Communications Commission. An equipment configuration error was the cause of the massive outage. While it took AT&T close to two hours to roll back the network change, restoration of full service took at least 12 hours because the mobile carrier’s device registration systems were overwhelmed with the high volume of requests for re-registration onto the network, the FCC said. Then in June, AT&T customers reported another service outage. Reports of service outages began to spike at 1 p.m. EST on June 4, then declined around 6 p.m. The areas surrounding New York City, Chicago, Philadelphia, Dallas, Pittsburgh, and Indianapolis were apparently affected. source

Nobody knows the probability of harm The GAO said it is “recommending that DHS act quickly to update its guidance and template for AI risk assessments to address the remaining gaps identified in this report.” DHS, in turn, it said, “agreed with our recommendation and stated it plans to provide agencies with additional guidance that addresses gaps in the report including identifying potential risks and evaluating the level of risk.” Peter Rutten, research vice president at IDC, who specializes in performance intensive computing, said Friday that his take is, “indeed, no DHS agency knows the full extent or probability of harm that AI can do to the US critical infrastructure. I’d argue that, today, no entity knows the full extent or probability of harm that AI can do in general — whether it is an enterprise, government, academia, you name it.” AI, he said, “is being pushed out to businesses and consumers by organizations that profit from doing so, and assessing and addressing the potential harm it may cause has until recently been an afterthought. We are now seeing more focus on these potential negative effects, but efforts to contain them, let alone prevent them, will always be far behind the steamroller of new innovations in the AI realm.” source

Enterprise implications: Navigating AI in a changing landscape The appointment of a tech-savvy leader like Krishnan reflects the Trump administration’s recognition of AI as a critical element for global competitiveness. For enterprises, this could bring regulatory clarity or, conversely, added scrutiny in areas such as data sharing, intellectual property, and the ethical use of AI. Krishnan’s emphasis on platforms forming “content alliances” and exploring legal or technical solutions for data-sharing disputes highlights the growing complexity of operating in an AI-driven economy. Businesses across industries must adapt to policies that will likely incentivize innovation while introducing stringent accountability measures. Krishnan’s appointment as a senior AI advisor signals a transformative shift in US tech policy under Trump’s administration. With his focus on AI ethics, decentralization, and user rights, Krishnan’s influence could shape not just governmental frameworks but also how enterprises evolve their AI strategies in a competitive, rapidly changing market. source