Accenture’s European Financial Services Digital Readiness Report examined 53 leading banks and insurers in several countries, across four key areas of the business spectrum: strategy, production/delivery, customer experience and corporate culture/operations, to analyze their digital transformation levels.
Market trends, combined with the Digital Readiness research, tell a story of an industry that needs to change, that recognizes the importance of digital as an instrument of change, but that has yet to find its footing for the level of transformation required to produce sustainable results and high performance.
Ever-increasing competition from new entrants poses the risk of relegating banks and insurers to back-office utilities, unless they infuse digital into their organizations at every level and establish the role they wish to play in the emerging ecosystem.
It’s time for financial services organizations to stop thinking about digital and start executing.
To learn more about the key steps financial services companies can put into action to embark on the journey to digital mastery, read our full report.