One in 4 EMEA Banks has a company-wide digital strategy.
BANKING AND CREDIT NEWS-June 16, 2016-One in 4 EMEA Banks has a company-wide digital strategy
(C)2016 M2 COMMUNICATIONS http://www.m2.com
SAP SE (NYSE: SAP) has released a survey that found only one in four banks (24 percent) in EMEA has created and executed a holistic end-to-end digital transformation strategy to engage customers, the customer said.
The study also showed that while 96 percent of the banks polled had completed some kind of digital transformation (DX) initiative, room for improvement remains.
Conducted by IDC Financial Insights and sponsored by SAP, the study "The Digital-Ready Bank" surveyed 250 retail and corporate banks across EMEA. The findings show digital transformation often occurs only in the front office, preventing banks from reaping the benefits of digital transformation at an organizational level. Chief among these benefits is the ability for banks to reduce costs while still delivering an optimized and individualized experience to customers.
The study found that key elements in creating enterprise-wide digital transformation included a collaborative culture and a focus on a digital core that embraced analytics and open, agile technologies. Another key element was a willingness to partner with external providers such as FinTech startups, technology providers and nonfinancial services firms that customers value.
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Jun 16, 2016|
|Previous Article:||Merchants Bank appoints 2 to commercial banking team.|
|Next Article:||Delos Capital leads Series B financing for Allecra Therapeutics.|