Innovation in #FinServ and #FinTech is accelerating, but how can we transform the organisations behind new products and services to make sure they are just as agile, responsive and customer-centric as their platforms and apps?
Take a number and join the queue…
The financial and banking industry’s boundaries are being redrawn daily by new technologies, raised customer expectations and competition from new entrants from startups to retailers, and even professional services firms.
And this is just the beginning. It is not enough to roll out a new app or buy a startup and hope for the best. Digital transformation is a truly strategic issue, requiring incumbents to rethink their internal structure, business practice, cultural make-up and leadership models to win long-term.
Connected financial services firms need connected leaders who are confident across all areas of operations from digital platforms to user journeys and experience design, whilst understanding how these can be developed in a highly technical and regulated sector.
The scope for automation of internal operations is huge, switching from manual process management and workflows to smart services and algorithms that can be orchestrated in back-end digital platforms to enable greater front-end flexibility.
- Digital Workplace development
- Technology adoption & culture change
- Leadership development & learning
- Platforms & startup ecosystems
- Incubation and innovation
- Connected digital strategy
Challenges we address
- Disconnected customer touchpoints
- Competition from new digital players
- Finding new digital revenue streams
- Limited internal tech capacity & skills
- No integrated digital transformation strategy
- Risk management culture, trust & ethics
- Engaging & educating senior leaders
- Aligning people behind change efforts
- Uncertain regulatory constraints & risk
- Increased adoption and utility for digital workplace technologies
- Lower end-user support costs
- Digital skills development at all levels of the organisation
- Improved user engagement for digital ways of working
This week’s curator, Livio Hughes, shares a blog post looking at the way in which the introduction of the updated Payment Services Directive (PSD2) - affecting UK banks irrespective of Brexit - will force the banking industry to engage with significant digital change...
Much has been written - both in our blog and elsewhere - about the many barriers to achieving the meaningful and sustainable digital transformation needed for businesses to operate in the challenging business conditions prevailing in the early 21st Century. From...
This week’s curator, Livio Hughes, looks at the ongoing challenges faced by banks in coming to terms with (and preparing for) lasting digital transformation in the face of a range of industry threats, including the likely entry into the market by tech giants alongside...
The recent announcement that Wells Fargo entered into a partnership with Amazon, signalling the online retailer’s entry into the tricky - but massive - US student loan market, is only the latest in a series of alarm bells being sounded in the financial services...
Do insurers get FinTech? Coming at a time when, according to Gartner, "half of CEOs expect their industries to be substantially or unrecognizably transformed by digital”, the apparent lack of engagement with FinTech displayed by insurers in a recent PwC US...
We are currently working alongside some fantastic asset management (AM) clients in Europe, which has allowed us to delve into some of the current dynamics shaping the European AM sector, research its emerging and still-tentative relationship with digital and social...