Digital Disruption Runs Deep
New entrants such as fintech startups, big tech firms, and nontraditional competitors are quickly delivering on customers’ increasing expectations. Faster, better, and cheaper services, together with new business models, are rapidly altering banks’ competitive landscape. Open banking accelerates these changes.
There’s A Growing Gap Between Digital Banking Leaders And Laggards
Many banking executives still think of “digital” in a tactical way as relating to just touchpoints or technologies. Leaders focus on how to deliver on customer outcomes through digital customer experience, digital operational excellence, digital innovation, and digital ecosystems.
Banks Are Struggling To Transform And Vary Widely On Digital Maturity
Many banks are still exploring the potential of digital technologies in pockets of their organization or striving to digitize the customer life cycle from end to end. Only the leaders are investing in transformation with the aim of delivering compelling digital customer experiences and building strong digital capabilities for the future.