Information Technology Foresight

The latest thinking on creating competitive advantage through information technology.

May 2016

Digital transformation in the financial services sector

Western European banks have done a good job catering to the digital needs of their retail customers, but not so much for their small and medium-size business customers. Competitive pressures from faster-moving banks, and from technology companies offering crowdfunding and peer-to-peer financing platforms, has blossomed. In response, banks there are going to have to vastly improve the digital services they offer SMEs.

50% — The percentage of companies looking for access to risk-management information online.

This month’s issue of IT Foresight features Banks’ small business imperative, our thinking about how banks can better serve their small and medium business customers, by offering higher levels of personalization and true multichannel offerings. And please take a look at De Novo, our new platform that enables for financial services companies to better understand how digital disruption is impacting their business strategy and how to respond.

Featured Foresights

Banks’ small business imperative
Strategy& viewpoint
Retail customers have profited by efforts of their banks to offer a wide range of multichannel digital services. But banks continue to struggle to provide such services to their small and medium-sized enterprise customers. This is a key customer sector, one that offers real revenue gains. To keep up with the faster-moving banks and technology companies already moving into this market, traditional banks must create more personalized digital offerings across all of their sales channels.
DeNovo
Strategy&
The DeNovo platform is the next generation of strategy consulting for financial services companies. All kinds of disruptive technologies and new business models are transforming the industry and forcing companies to rethink their corporate strategy and business models. This forward-looking application offers real-time advice, insights, and content delivered via web, mobile, and direct interaction with our team of innovation strategists.
A Strategist’s Guide to Blockchain
strategy+business
The technology that lies behind bitcoin is poised to transform how companies in industries from financial services to the art market conduct business. This peer-to-peer database technology for trading all kinds of commodities is immune to tampering and fraud, and technology and financial services and technology companies are actively looking into how to participate. What will it mean for your business?

Information Technology Foresight archive

November, 2016
Strategic transformations — marked by the collision of technological breakthroughs, financial crises, demographic shifts, and other global forces — continue to make waves across industries.

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