As financial services organizations contend with evolving risks and demands in a cost-pressured environment, companies with a competitive edge in the sector are those who can deploy digital transformation tactics to bring enterprise-wide value. But are financial services firms ready to unlock unprecedented growth through digital innovation?
This report draws upon the perspectives from 612 leaders across the financial services industry. While it reveals that the financial services sector is most likely to generate profit from its AI investments, there is also a growing need to move beyond siloed, short-sighted tactics to build a business fit for the future.
Persistently high inflation, geopolitical pressures, regulatory challenges, and slow global economic growth are combining to challenge businesses across financial services. Interest rate volatility is dampening consumer spend and asset performance, while compliance and operational costs are steadily increasing, forcing executives to revisit growth strategies. At the same time, organizations across financial services are coming under pressure both to generate value and to operate within tighter margins.
