When it comes to strategy, it’s no longer good enough to just “talk a good digital game”—banks and insurers have to actually deliver on their digital plans.
As observed in most other countries covered by the research, the UK’s Financial Services industry has focused most of its digital investment on customer-facing initiatives. However, in order to unlock the true value of digital, a far more holistic approach will be required. This will involve harnessing digital in areas such as product innovation, enhanced customer propositions and more efficient back-office operations. In a nutshell—embracing digital across all parts of the value chain.
These are some of the findings from Accenture’s European Financial Services Digital Readiness Research. Using public information—the same that is available to potential investors and customers— an Accenture research team assessed organisations against four key facets of an enterprise: strategy, production, customer experience and operations.