Digitization Trends in the Financial Services Industry

Digitization Trends in the Financial Services Industry' is a new report by GlobalData that globally analyzes executives’ opinions on digitization trends, and identifies key factors and objectives driving and influencing organizations towards its adoption. The report also examines executives’ viewpoints with regards to the preferred digital technology for back-office operations in the financial services industry. It also highlights the main challenges faced by organizations in the successful implementation of digitization, and evaluates projected budget allocations to digitization over the next two years.

Scope

GlobalData's 'Digitization Trends in the Financial Services Industry' report features the opinions of financial services industry respondents about digitization trends in the financial services industry, covering the following aspects:

Key drivers for digitization

Pressing concerns in the successful implementation of digitization

Organizations' approaches to digitization strategy

The impact and influence of digitization on product ranges and services

Projected budget allocations to digitization over the next two years

Revenue projections from value-added services over the next two years

The influence of social media on digitization prospects

Key Highlights

Cost reductions and improvements in customer service and engagement are driving digitization in the financial services industry

Most organizations are implementing or planning to implement digitization by themselves

Business process management is the most preferred digital technology for back-office operations

Revenues resulting from value-added services are projected to increase by 10.5% over the next two years

Asia and North America will show greatest advances in digitization over the next two years

Reasons to buy

The report highlights key goals which organizations intend to achieve through digitization, enabling companies to restructure their business plans.

The report enables readers to make strategic decisions by understanding organizations’ approaches to digitization, and identifying the main challenges faced by organizations in the successful implementation of digitization.

The report examines expected changes in product ranges and services offered as a result of digitization. This will help companies to improve customer service and strengthen product development.

The report provides expectations about budget allocations to digitization over the next two years, which are likely to influence growth prospects.

The report highlights regions with significant advancement potential for digitization over the next two years. This will help to design better business expansion plans.

Companies mentioned

Citi Private Bank

First National Bank

Mashreq Bank