The banking industry is experiencing one of the most significant shifts in its history. In 2025, more than 3.6 billion people worldwide are using digital banking services. Together with this 77% of consumers now prefer to manage their accounts through mobile apps or computers.
This trend highlights how digital channels have become the default choice for banking, with liquidity aggregation opportunities, advanced risk management, and enhanced user experience playing a key role in ensuring efficiency and resilience behind the scenes.
Where banks once differentiated themselves through physical presence and reputation, they are now judged by the efficiency of their platforms, the quality of their digital services, and their ability to integrate into an increasingly interconnected financial ecosystem.
From Closed Systems to Open Infrastructure
For decades, many banks operated on legacy technology. Systems were closed, data was siloed, and client access was limited to what a single institution could offer. The rapid rise of fintechs and alternative service providers has upended that model, showing clients that seamless digital experiences and global reach are not just possible, but expected.
As a result, banks are under pressure to modernize their core infrastructure. This includes migrating to cloud-based solutions, adopting real-time analytics, and rethinking how they connect with counterparties and clients.
For example, several leading European banks have partnered with fintech providers to implement cloud-native payment hubs. By doing so, they can process cross-border payments in real time, aggregate liquidity from multiple sources, and provide clients with transparent pricing — something that would have been impossible under their former legacy systems.
Technology as the New Competitive Edge
What sets leading banks apart today is their ability to use technology strategically. Artificial intelligence, advanced risk management tools, and automated compliance systems are now part of everyday operations. Beyond efficiency, these innovations create new opportunities to improve client experience, streamline back-office processes, and strengthen resilience during periods of market stress.
Among the many solutions reshaping the industry is liquidity aggregation, which allows institutions to consolidate liquidity from multiple sources into a unified framework. While it may sound highly specialized, its impact is broad: by reducing fragmentation and enabling more transparent pricing, it contributes to a more stable and efficient market environment.
For example, JPMorgan Chase has invested heavily in digital trading infrastructure, combining liquidity aggregation with advanced analytics to offer clients deeper market access and more competitive pricing. Similarly, Deutsche Bank has deployed AI-driven risk management and consolidated liquidity flows across multiple venues, enabling it to deliver greater resilience during volatile market conditions.
Expanding Beyond Traditional Boundaries
Another key element of transformation is the expansion into multi-asset services. Clients increasingly expect banks to support a wide range of financial instruments through a single interface. Delivering on this expectation requires more than technology — it demands strategic partnerships, agile operating models, and the willingness to rethink traditional boundaries.
This convergence of banking and financial technology highlights a larger trend: the emergence of connected ecosystems. Banks are no longer isolated institutions; they are nodes in a global digital network. Success depends on how well they integrate, adapt, and innovate within that network.
A good example is UBS, which has expanded its platform to provide clients with access to equities, fixed income, and digital assets within a unified environment. By partnering with fintech providers and leveraging open APIs, UBS has been able to integrate multiple asset classes into one client-facing interface. Similarly, Standard Chartered has embraced a multi-asset approach through collaborations with technology firms, enabling institutional clients to manage foreign exchange, commodities, and securities from a single digital platform.
The Road Ahead
The journey of digital transformation is far from complete. Many institutions are still in the process of modernizing legacy systems, while others are experimenting with new service models to stay ahead of client needs.
What is clear is that technology will remain at the center of banking’s evolution. Whether through artificial intelligence, open banking frameworks, or specialized solutions such as liquidity aggregation, the institutions that embrace innovation will shape the next era of financial services. Those that hesitate risk being left behind in an increasingly connected and competitive economy.
