The rise of digital consumers is rapidly transforming the way banks, capital markets firms, and insurance firms operate. BFSI organizations are investing in a customer-centric and integrated digital transformation strategy. Banks and financial firms are not only adopting digital technologies to engage customers or enhance customer experience, but also to drive internal efficiencies.
The millennial customer is driving investments towards multi-channel and omnichannel initiatives by banks. In the capital markets space, enterprise investments are focused on driving efficiency of back- / mid-office operations and agility of front-office processes. Insurance firms are investing in digital technologies to meet critical imperatives across customer experience, risk reduction, and legacy modernization. However, optimism levels for various digital investments vary significantly and BFSI enterprises are reprioritizing their investments on digital technologies.
To delve further into the true nature of adoption, we conducted a survey with IT and business heads of leading North American and European BFSI enterprises (US$1 billion or more in global revenue). Surveys were conducted with BFSI organizations that have adopted or are considering adoption of three or more digital technology themes. This industry report focuses on:
Establishing a definitional framework for digital adoption
Drivers for digital adoption in the BFSI space
Assessing the extent of digital technology adoption amongst BFSI buyers
Assessing optimism levels on existing investments
Key investment priorities for BFSI organizations
Identifying key implications for BFSI firms and service providers
Note: this report is from 2012. See our most recent R2R research report.
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