What will you learn?
A third of respondents to our survey (33%) say their digital transformation efforts involved an enterprise-wide transformation approach to integrate systems and share data effectively.
According to a recent McKinsey study, customer willingness to consider digital channels is significant – in fact, it exceeds 70% in every geographic region and age category.
Improving the customer experience is as much of a priority to banks as digital banking transformation. This suggests that innovation projects are centered around meeting the needs of the customer.
“Today’s top performers in providing banking services are valued more like tech firms than banks – a clear sign that banks need to increase their innovation metabolic rate” (McKinsey)
Process automation is identified as the top priority in the short term, as it enables greater efficiency, faster time-to-market, better customer service, and improved physical distribution channels.
The majority of participants to our survey expressed concern about the threat posed by Google, Apple, Facebook, and Amazon (GAFA)
A research study from Qorus in partnership with ebankIT
7 markers of successful reinvention
Our survey findings have highlighted a number of commonalities between the digital leaders that are successfully reinventing themselves in the post-Covid era.
The numbers
KIB’s new strategy focuses on becoming more customer-centric by offering an integrated customer banking experience and by establishing itself as a partner in every aspect of its customers lives.
by Khatija Iffath, Executive Head of Business Excellence, leading Retail Transformation
How to fast track your success
What is evident from our research is that there is a growing urgency for banks to do a better job digitally. They need to digitize their banking services, but they need to do so without losing the human experiences that today’s customers know and love. With that in mind, they need to find a way to deliver more personalized offers and more personalized customer experiences, but in the digital world.
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