Retail banking and consumer finance
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Digitization remains top of mind for retail banks as they strive to meet customers’ evolving digital expectations. Executives are focused on delivering a better end-to-end customer experience that drives loyalty and revenue. Finding the right IT talent to accelerate digitization is a major challenge this year. Critical operational priorities, including securing the bank in the face of growing cyber and financial crime threats and complying with mounting regulation, are also high priority concerns.
View key findings from our conversations with retail bank executives in 2022 below, or download our report.
For more insights on macro trends, including social demographics, climate change, deglobalization, technology acceleration and supply chain reconfiguration, read our summary.
Among the 36% of retail bank executives who report achieving expected results from their digital strategies, some common attributes emerge. Our table compares responses to questions from these digital leaders to those from executives whose organizations are still building or launching digital strategies (digital entrants). Learn more about the attributes of digital leaders.
Common attributes of digital leaders
|Consider their business model to be highly agile||30%||6%|
|Have highly aligned IT and business operations to support the digital strategy||74%||36%|
|Have deeply integrated IT and business operations to drive execution of the digital strategy||67%||33%|
|Are implementing or fully operational in delivering client-facing transformation||98%||44%|