Banks he works with are building digital capabilities, from business operations to creating a more modern customer experience. Their approaches vary from creating new challenger banks with a separate brand to placing a digital wrapper around legacy core bank systems. Photo by Tom GroenfeldtOthers find that banks lag in digital transformation. A recent McKinsey paper concluded that financial services is only 39% digitized, compared to 62% for media and entertainment, while a MuleSoft survey found obstacles to digital transformation were higher in financial services. To move ahead on digital transformation banks should get tactical.

Source: Forbes November 27, 2017 19:52 UTC