Independent Banker - February 2023 - 30

model to simulate potential
scenarios, use machine learning
and discover possible outcomes
from these scenarios.
Money movement
that redefines
what's possible
This sharing of information
between physical products or
processes and digital models
builds a closed feedback loop fed
by compounding information: The
real-world process sends data, the
digital twin evaluates and provides
feedback, the analysis is tested, the
process is improved and the cycle
begins all over again. This creates
a virtuous circle of continuous
enhancement driven by data that
is constantly being expanded
and refi ned.
A digital twin example in banking
could take the form of optimizing
a business continuity plan or
compliance process; analyzing
customer behavior; or planning
out the design, location and
construction of a new branch.
Using information gathered
from the digital twin process can
accelerate product development,
improve operational effi ciency,
meet sustainability goals and
improve customer experiences in a
way that minimizes risk and cost.
Q: What are some digital
twin applications for
community banks?
A: Utilities, life sciences,
consumer products and
manufacturing are just a few of the
major industries already reaping
the benefi ts of this technology. A
recent research study conducted by
Capgemini found that more than
1,000 organizations in various
global industries " realized a 13%
decrease in costs, on average,
across the various use cases of
digital twins and a 15% increase
in operational effi ciency " through
utilizing digital twin technology.
Make sure Alacriti Booth #412
is on your list of stops at ICBA LIVE 2023
Advisory as a Service
Your Regulatory Complaince
& Internal Audit Partner
Come say hi to us at Booth 309

Independent Banker - February 2023

Table of Contents for the Digital Edition of Independent Banker - February 2023

Table of Contents
Independent Banker - February 2023 - Cover1
Independent Banker - February 2023 - Cover2
Independent Banker - February 2023 - Table of Contents
Independent Banker - February 2023 - 2
Independent Banker - February 2023 - 3
Independent Banker - February 2023 - 4
Independent Banker - February 2023 - 5
Independent Banker - February 2023 - 6
Independent Banker - February 2023 - 7
Independent Banker - February 2023 - 8
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Independent Banker - February 2023 - 65
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Independent Banker - February 2023 - Cover3
Independent Banker - February 2023 - Cover4
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https://www.nxtbook.com/mspc/independentbanker/december2023
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https://www.nxtbook.com/mspc/independentbanker/august2023
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https://www.nxtbook.com/mspc/independentbanker/february2022
https://www.nxtbook.com/mspc/independentbanker/january2022
https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
https://www.nxtbook.com/mspc/independentbanker/october2021
https://www.nxtbook.com/mspc/independentbanker/september2021
https://www.nxtbook.com/mspc/independentbanker/august2021
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https://www.nxtbook.com/mspc/independentbanker/april2021
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https://www.nxtbook.com/mspc/independentbanker/december2020
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https://www.nxtbook.com/mspc/independentbanker/august2020
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https://www.nxtbook.com/mspc/independentbanker/april2020
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https://www.nxtbook.com/mspc/independentbanker/february2020
https://www.nxtbook.com/mspc/independentbanker/january2020
https://www.nxtbook.com/mspc/independentbanker/december2019
https://www.nxtbook.com/mspc/independentbanker/november2019
https://www.nxtbook.com/mspc/independentbanker/october2019
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https://www.nxtbook.com/mspc/independentbanker/august2019
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https://www.nxtbook.com/mspc/independentbanker/january2019
https://www.nxtbook.com/mspc/independentbanker/december2018
https://www.nxtbook.com/mspc/independentbanker/november2018
https://www.nxtbook.com/mspc/independentbanker/october2018
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https://www.nxtbook.com/mspc/independentbanker/july2018
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https://www.nxtbook.com/mspc/independentbanker/april2018
https://www.nxtbook.com/mspc/independentbanker/march2018
https://www.nxtbook.com/mspc/independentbanker/february2018
https://www.nxtbook.com/mspc/independentbanker/january2018
https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
https://www.nxtbook.com/mspc/independentbanker/september2017
https://www.nxtbook.com/mspc/independentbanker/august2017
https://www.nxtbook.com/mspc/independentbanker/july2017
https://www.nxtbook.com/mspc/independentbanker/june2017
https://www.nxtbook.com/mspc/independentbanker/may2017
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