The latest IDC Financial Insights report – entitled The Digital Ready Bank and based on a survey of more than 250 retail and corporate banks across EMEA – contains important insights for banks grappling with digitalisation. In particular, the findings show that while banks are making good progress, for the most part their digital initiatives are not sufficiently strategic – and do not reach beyond the front office.
- Frits Drost, Commercial Director, Knab
- Jerry Silva, Research Director for IDC Financial Insights
- Laurence Leyden, General Manager, EMEA Financial Services, SAP
Indeed, 40% of respondents say digital transformation remains a front office initiative geared towards improving customer experience, and more than a third that their digital transformation goals are aligned to near-term goals focused on products and customer experiences. Only 20% of respondents say their DX initiatives are primarily centred on the back office. Concentrating on the customer is obviously important – but the potential downside is a failure to implement an overall enterprise digitalisation strategy.
This webinar, brought to you by Finextra in association with SAP and featuring speakers from IDC and leading EMEA financial institutions, will examine further the outcomes of the research. The panelists will relate the findings to their own experiences of digitalisation, and debate the lessons to be learned - offering insights as to how financial institutions can leverage these to build further on what they have achieved with digitalisation so far.
Among the topics to be explored will be:
- What impact will digitalisation have on banks’ business models, and are they doing enough to explore and prepare for this?
- How can banks best work with fintechs to achieve their digitalisation goals, ensuring speed of roll-out without compromising on quality?
- What are the key technologies banks must leverage for true success in a digital world – and what are the main technology challenges they face in achieving this?
- What are the success factors for banks in formulating and executing digitalisation strategies – and how can they best secure buy-in from senior management and IT?
- How is the role of banks in the wider ecosystem of customer interactions changing, and what steps should they take to ensure they are part of holistic digital customer propositions?
Join the webinar to discover more about the IDC Financial Insights report and how banks can make use of its findings to take their digitalisation strategies to the next level.