“We can invest in technology for technology's sake, but building the culture, building the understanding of data and design thinking, and prioritizing use cases are more important.”
3. Invest in a partner ecosystem
“To accelerate change, we cannot do everything on our own; we have to foster partnerships.”
4. Be agile to move at speed
Incumbent banks are embracing digital in their transformation efforts – but are they moving fast enough to put digital and customers first? For banks that had been grappling with digital transformations, the impact of COVID-19 was an unexpected reckoning.
Banks are looking to the future, and it’s clear that the time for talking about digital transformation is over – so how can banks make the move from digital laggard to digital leader?
What sets today’s leading banks apart from the rest? It’s not just that these leaders have moved faster and further with transformation, but that they are working hard to identify the barriers preventing them from being truly digital-first and working to overcome them.
The Global Banking Benchmark Study series:
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Director, Business Development