As an early adopter of digital, the financial services industry has introduced some of the first truly digital products, experiences, and organizations to the market. Despite broad acknowledgment on the benefits of "becoming digital,” there is a significant capability gap between the leading digital banks and a large swath of the mid-market.
In fact, 6 in 10 bank customers don’t plan to return to branches once the pandemic recedes. How will you accelerate digital banking to maintain your advantage?
The good news is that the digital solutions once out of reach for all but the largest institutions are becoming less risky, less expensive, and more widely accessible. But success isn’t automatic – it still takes the right focus and steps to win in an increasingly digital market. That’s where we come in.
We recognize that digital transformation is not just about technology and processes but also mindset and organizational culture. That’s why we’ve built our multidisciplinary team with a unique blend of expertise: financial services acumen, IT strategy, customer experience, technology architecture, and organizational design.
In our research of financial institutions that achieve at least 10% year-over-year growth, we found six specific attributes of digital maturity that are most closely tied to financial gains:
We designed our undeniably different approach around these areas – targeting practical and feasible improvements in digital maturity that support your bank’s business needs. Better yet, we can typically deliver that insight in six to eight weeks, depending on scope and complexity. That means your bank can get on the road to results, faster.
With market conditions and competitive landscape changing so rapidly, where do you really stand and where you need to improve? We use a proven digital maturity assessment and industry benchmarks to analyze 20 dimensions of your digital ecosystem, relative to business needs, across the 6 key attributes described above – providing an independent perspective of your bank’s current digital maturity.
The assessment draws on our cross-industry digital experience – considering not only what banks do well in the digital space, but also what digital leaders across all sectors do that differentiates their customer experience.
The output – including preliminary areas of opportunity, as well as practical “quick wins” in each area which we view as “microtransformations” – is designed to prepare your institution for changes in strategy, customer focus, culture, processes, products and services, and technology.
We’ll conduct workshops with executive leadership to collaboratively determine their future state for technology, customer experience, IT operations, and data governance. Then we perform a gap analysis, identify a list of actions to mitigate those gaps, and then formulate a high-level overview of future state that aligns with the vision.
We understand how to plan for the future, even when the landscape is changing practically by the day. Our team will partner with your team to:
Then, we’ll work with you to organize all of this into a three-year road map of activities designed to increase the maturity of your technology architecture and organizational capabilities to improve your digital customer experience.