Financial firms failing to meet e-business challenge

Financial firms failing to meet e-business challenge

Three in four financial services organisations within the Times Top 1000 UK companies do not have an e-business plan for 2001, according to research published by consultancy, Rubus.

The survey, conducted by research firm ICM in December 2000 on behalf of Rubus, finds that while nearly all financial services organisations acknowledge the relationship between an effective online presence and success in business, only half have a dedicated head of e-commerce or e-business to help them achieve it.

Fifty-seven per cent admit to other business matters taking priority, lack of in-house skills and board level support as key challenges to the successful implementation of online ventures.

Furthermore, only just over half of those with responsibility for e-business have board level status, demonstrating a marked contrast between intention and commitment, says the report. This is despite the fact that 100% of respondents intend to exploit new interactive channels such as interactive TV and mobile applications in 2001.

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