Financial firms are all in on digital transformation.
As they move deeper into their journeys, however, many are encountering data and legacy technology challenges that are limiting their progress. Explore how digital leaders are accelerating the modernization and transformation of their operations to move past those obstacles, and new pain points that have emerged along the way.
Magic wand wish: A seamless platform
When asked what they would choose if they had a magic wand to accelerate their firms’ digital transformation progress, the top responses were focused on a single platform and source of truth, the ability to use data in a more seamless, connected way, and cybersecurity.
Data silos and legacy technology emerge as top pain points
While most financial firms agree that a clear data strategy is the key to maximizing return on technology investments, many are still facing challenges breaking down data silos and getting to the level of data quality and consistency they need to power their digital transformation ambitions.
GenAI proving its place in financial services workflow
Overall, 72% of firms are making moderate to large investments in GenAI this year, up from 40% in 2024. Helping to drive that investment, 68% of respondents believe GenAI will improve productivity, and 35% expect to start seeing ROI within six months.
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Digital assets go mainstream
After many years of sitting on the sidelines, digital assets and blockchain technologies have captured the attention, and increasingly the wallets, of financial firms.
Cybersecurity takes center stage
Cybersecurity and operational resilience are clearly on the minds of financial services professionals with 89% of firms planning to increase their investment in cybersecurity technology.
While digital transformation has become non-negotiable, many firms are taking different paths to execute their strategies. This report highlights the approaches that are working, the areas receiving the biggest new investments, and the most common challenges firms are encountering along the way.
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| Table Heading | |
|---|---|
| +1 800 353 0103 | North America |
| +442075513000 | EMEA |
| +65 6438 1144 | APAC |