{
  "id": 10884921,
  "title": "Digital innovation - hindrance or booster for banks’ business models?",
  "url": "https://urgent.news/2026/09/30/digital-innovation-hindrance-or-booster-for-banks-business-models",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-30T00:00:00.000Z",
  "source": {
    "name": "BIS Central Bank Speeches",
    "slug": "bis-central-bank-speeches",
    "url": "https://www.bis.org/speeches/20260930-digital-innovation-hindrance-or-booster-banks-business-models"
  },
  "original_language": "en",
  "account": "Banking revolves around data processing and forecasting, encompassing future liquidity needs, borrower repayment capabilities, and collateral quality. Some data is quantifiable, while other crucial insights emerge from repeated customer engagements. Historically, banks held a competitive edge over other financial entities by offering diverse services in one location, amassing valuable information for predictions. Digital disruption could thus disrupt or enhance banks' business models. Technological advancements, especially artificial intelligence (AI), enhance data processing. Over 80% of banks monitored by the ECB recognize process automation as a key cost reduction strategy. However, digital innovation also expedites industry restructuring as fresh entrants join, offering services across the banking ecosystem. ECB-supervised banks acknowledge potential customer loss as a risk linked to digital transformation.",
  "summary": "Keynote speech by Prof Claudia Buch, Chair of the Supervisory Board of the European Central Bank, at the, annual Foreign Bankers’ Association of the Netherlands conference, Amsterdam, 22 September 2026.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}