Winning in the Digital Moment

Résumé: 

The financial services industry is undergoing unprecedented change but many participants are unaware of the fundamental nature of what’s unfolding and of the impact on organisations, people and customer relationships.

The wave of digitalisation and changing balance in power of the customer that has swept many other industries is now breaking on our shores. Digitalisation represents a fundamental shift for the industry: much of the technology, products and services that are now being discussed simply didn’t exist three years ago, and what’s to come has even more implications for business models and cost of operations.

Financial services institutions must transform into digital, customer-centric businesses. The journey needs to include relevant and executable strategies to:

  • Understand the importance of the human element in digital transformation
  • Rethink and rewire business models
  • Enable innovation and collaboration at speed
  • Embrace disruptive technologies such as Artificial Intelligence (AI), Machine Learning (ML), Internet of Things and Blockchain

Over 500 banks, insurance firms, industry influencers, as well as fin tech companies, and industry experts all gathered recently at the SAP Financial Services Forum in London with a common goal – to discuss the future of financial services. We took the insights and opinions of thought leaders and industry experts gathered at the event and consolidated them into one report.