Change Leader's Toolkit
Ignite change in
financial services
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Financial Services Tech
Future Tech 20: Technologies Making the Financial Services Successes of 2023
Technology will be a key differentiator for bottom-line growth in the financial services industry in 2023. Over 50% of firms plan to increase investment in technologies such as AI, blockchain and cloud computing over the next two years. Twenty technologies will shape the success stories of the near future. We explore how you can deploy them in your organisation to compete.
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Change management
5 Key Processes your Financial Services Digital Transformation Has Overlooked
Financial services leaders focus heavily on technology in creating change. Culture, practices, and processes are equally important for success. We compiled evidence from over 16 key research sources to discover the processes that are commonly overlooked. Five processes are getting left behind by financial services organisations through digital transformation.
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Professional Development
8 Secrets to Creating Change in Financial Services Without Rocking the Boat
In 2022, financial services organisations will continue on a trajectory of rapid digital transformation. Over 56% of CEOs plan to increase investment in digital change. What are the barriers to a successful change programme? We go through how to motivate change buy-in, where to focus your budget, and how to approach legacy process and change communications.
Get the facts
We compiled evidence from over 98 key research sources to create three guides that answer the most essential questions asked by change leaders in the financial services for 2022.
- Which technologies foster fast growth?
- What is our change strategy missing?
- How do you foster stakeholder buy-in?
85% of banks are relying on banking-as-a-service (BaaS) as their core area of growth over the next few years, with API-driven tech fuelling new possibilities.
Firms that consistently readdress risk are likely to see higher rates of change success. Over 10% of the £27bn annual cost of data breaches happen in FS.
44% of customers are interested in using voice for routine banking but no frontrunners have yet appeared. Could 2022 be the breakout year?
Organisations that do not neglect legacy institutional knowledge flows are 2.1x as likely to succeed with their digital transformation efforts.
With $4 billion invested in RegTech in the first half of 2021, organisations are counting on digital solutions to compliance problems that affect their bottom lines.
Upskilling staff on new technologies is vital for frictionless digital change - 55% of employees have only low to moderate digital aptitude.
Quote
"It is vital for the financial services industry to innovate...
and to investigate new technologies to improve their products and services. If the incumbents don’t change their offering and innovate, newcomers will disrupt their business."
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