Future-ready banks expect digital transformation to yield 17% ROI
It’s hard to transform your bank – even if the prize is clear. Based on our research, banks must mature along three dimensions to deliver transformation benefits:
- Operational efficiency: drive cost reduction through intelligent automation
- Joined up employee (EX) and customer experiences (CX): great EX leads to great CX
- Innovation mindset: create an entrepreneurial culture
“(Avanade doesn’t) just bring technology expertise. They bring a level of business acumen that really helps us come up with the right solution for the client. We can now focus on what matters. One employee said, ‘We’ve come from the Ice Age to the USS Enterprise’.”
Wrapping this up in intelligent technology and process, including AI, machine learning and data science, is the final element of a future ready bank. Such banks can not only adapt quickly to disruption, they can lead, forcing competitors to adapt to them. Are you future ready? Here are four questions to ask yourself now:
1. Is leadership on board – or delegating digital change to a project or person?
2. Can you innovate around Open Banking with third parties – or still obsessed with control?
3. Are you driving efficiency through automation and analytics – or struggling to integrate it?
4. Are your people enabled to deliver great CX – or just taken for granted?
Download our Future Ready Banking PoV to learn more.
