Critical digital transformation milestones in BFSI and what they signal for 2026

By Kishan Sundar, Senior Vice President and Chief Technology Officer, Maveric Systems

Reflecting on the past few years, several key digital transformation milestones have shifted the trajectory of the BFSI industry. The rise of branchless banking, architectural evolution from monolithic systems to modular, cloud-native frameworks, the emergence of digital-only banks, and regulatory mandates have empowered fintechs to offer previously exclusive banking services.

Branchless banking redefined customer reach and access, delivering convenience and flexibility on a large scale. The architectural transition from rigid monolithic systems to modular and cloud-native platforms represented a foundational shift, putting agility and scalability at the core of banking operations apart from technological upgrades. Digital-only banks have rapidly grown in prominence, driving seamless onboarding and instant support, and signalling a new benchmark in customer experience. Regulatory changes have played a transformative role, inviting fintechs into service domains previously walled off by traditional banks. This competitive dynamic has ...