“Digital” is the new buzz word in the banking sector, with banks all around the globe shifting towards digitalization. Banks of allsizes and across all regions are making huge investments in digital initiatives in order to maintain a competitive edge and deliverthe maximum to its customers.Additionally, digitalization leads to robust data analytics and intelligence, which helps banks get closer to customers and close inon competition.Digital banking is part of the broader context for the move to online banking, where banking services are delivered over the internet. The shift from traditional to digital banking has been gradual and remains ongoing, and is constituted by differing degrees of banking service digitization. Digital banking involves high levels of process automation and web-based services and may include APIs enabling cross-institutional service composition to deliver banking products and provide transactions. It provides the ability for users to access financial data through desktop, mobile and ATM services.