Mark Kaplan & Monika Wirth, Partners at Accenture look at the challenges around core banking transformation, the growing need for change and the complexities and investments necessary to bring banking services into the digital age.
This Finextra interview took place at SAP’s Financial Services Forum in London. For more information, check out events.sap.com/gb/sap-financial-services-forum-emea/en/home
Banks and other businesses maybe feel that changes are required but they are not sure what changes are required.
Idea that changes are required because of digital is not very convincing because it is not clear how those technologies will help to improve business results.
Mantra that customers want digital (what is digital and how that helps improve profitability of each customer?) and therefore banks need to be agile (how agile? What is criteria and measure?) from my point of view does not provide enough justification or
clear and strong case for radical changes and heavy investments. That looks more like gambling rather than mature forecast or estimation.
These days, when business profitability is not that great as before, deeper understanding of innovation, optimisation and modernisation projects and more careful planning of projects and results is the key to success.
© Finextra Research 2018