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.