Digital transformation (DX) in the worldwide banking industry is characterized by the ability to use technology to break out of the constraints forced by legacy systems and processes and enable a more efficient and responsive institution. While all banks worldwide acknowledge the importance and complexity of transforming their businesses to compete in this new digital economy, nearly 40% have not yet executed on a sustainable digital transformation strategy, according to a new survey from International Data Corporation (IDC). To help institutions assess, benchmark, and identify areas of improvement in their digital transformation journey, IDC recently published IDC MaturityScape Benchmark: Digital Transformation in Banking Worldwide, 2018
This new IDC benchmark study presents the results of IDC’s 2017 Digital Transformation in Worldwide Banking MaturityScape Benchmark Survey and should be viewed as a supplement to IDC MaturityScape: Digital Transformation in Banking 1.0 (IDC #US41117816). Together, the two reports provide a comprehensive overview of IDC’s digital transformation model for worldwide banking.
“Banks no longer have a choice but to transform if they want to become more responsive to today’s and tomorrow’s markets,” says Jerry Silva, director, Global Retail Banking at IDC Financial Insights. “Those banks that have committed to digital transformation at the board and C-suite level are already creating disruptions that are taking the industry to business models beyond banking.”
IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investments industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a wholly-owned subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc-fi.com, email [email protected], or call 508-620-5533. Visit the IDC Financial Insights Community at http://idc-insights-community.com/financial.
Source : Business Wire