Digital Transformation in Banking: Making Progress and Hitting Roadblocks

#Digital Transformation in #Banking: Progress and Roadblocks

 

#fintech #CIO #AI #IT #tech

  • One third of banking executives participating in a study said that marketing owns the end-to-end customer relationship, but only 14% feel that marketing should own their institution’s digital strategy.
  • As financial institutions look at how best to adapt their current practices to meet the needs of customers across an expanding array of digital channels, banking executives look for insights to inform their digital transformation strategies.
  • With 87% of the financial institution respondents saying that technology is intrinsic to digital transformation and must be considered in tandem with strategy, it’s a natural fit for CIOs to lead the way in vetting and implementing the technical platforms and solutions that will form the backbone of an organization’s digital strategy.
  • Still, a financial organization that can establish a culture free of silos – and carry out effective digital transformation quickly and successfully – will certainly earn itself an effective competitive advantage and be able to deliver a differentiated level of customer experience.
  • By incorporating advice from other industry leaders and fostering a company culture ready to embrace cooperation alongside new technology, financial institutions can best execute the digital transformations necessary to keep pace and potentially stand out in their industry.

Two out of every five financial institutions say they are only in the infancy of their digital transformation strategy.
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Forrester’s Top Emerging Technologies To Watch: 2017-2021

Forrester’s Top Emerging #Technologies To Watch: 2017-2021
#AI #VR #IoT #bots #cloud

  • Our list focuses on those technologies that will have the biggest business impact in the next five years.
  • We organize this year’s list into three groups – systems of engagement technologies will help you become customer-led, systems of insight technologies will help you become insights-driven, and supporting technologies will help you become fast and connected.
  • Intelligent agents coupled with AI/cogntive technologies will automate engagement and solve tasks.
  • The technology gives firms visibility into and control of customer and operational realities.
  • Hybrid wireless technology will eventually ereate connected cverything.

Forrester: As a refresh to my 2014 blog and report, here are the next 15 emerging technologies Forrester thinks you need to follow closely. We organize this year’s list into three groups — systems of engagement technologies will help you become customer-led, systems of insight technologies will help you become insights-driven, and supporting technologies will…
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