Digital has the power to transform business. Businesses in every sector are starting to go through a digital transformation. The Financial Services sector particularly is waking up to the potential of digital to integrate and streamline the entire business process. This slideshare offers insights from industry experts and tips for how to achieve digital transformation success if you are in Financial Services.

1. © 2012 GlobusMedia Ltd
The Digital Dawn in Banking
How to embrace digital transformation in the financial services sector

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Almost every business today is
going through a process of
digital transformation. Companies
are investing in digital marketing
and the technology that enables
them to engage customers
and manage internal processes.

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Digital transformation is about deploying technology specifically to
realize strategic business objectives. The financial services sector
is beginning to perceive the potential of digital to integrate and
streamline the entire business process.

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Many financial organizations
are still operating with
manual processes or legacy
systems. There are some
that are still running
marketing operations with
paper- based systems.

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Financial services
organizations know that
they must adopt digital
ways of working to
improve process, cut
costs and encourage
internal fluidity.

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Top priority areas for technology
investment in the financial
services and insurance sector,
researched by Econsultancy.

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“Industries like travel, media and
retail have each experienced
extreme disruption and it’s
significant how those that haven’t
transformed have tended to
become obsolete or irrelevant”
Rob Mettler,
Director of Digital Business,
PA Consulting

8. Insights from industry experts and research

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“As demand for and expectation
of digital products has grown so
dramatically, customers have now
become the primary force behind
digital transformation in all
industries.”
iBM Research

10. IBM Research “Digital Transformation: Creating New Business
Where Digital Meets Physical” outlines their three basic
approaches in the strategic route to transformation:
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Focusing on customer value propositions
Transforming the operating model
A holistic combination of transforming the
customer value proposition and organizing
operations for delivery

11. Research by AT Kearney
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12. How to achieve successful digital transformation

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The idea of wholesale digital
transformation can be daunting.
But successful
Projects can begin with
small incremental change at the
core of the business.

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The first step is to change the mindset
of the board as many in the financial
services industry may not yet fully
appreciate digitalization as a core
strategic value.

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“The most important thing in the digital transformation process is
having the leadership in place to recognize the potential and commit
to a more transformative journey.”
Rob Mettler, Director of Digital Business, PA Consulting

16. Four key elements of a successful digital
transformation
A collaborative
environment
Long-term vision
and short-term
execution ability
Strategic
partnership with
technology
vendors
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An innovative
mind-set
from the
board of
directors

17. How to achieve digital transformation success:
start with a pilot project
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1. Identify the issue
that hampers your
efficiency
2. Build a list of digital
solutions that
could help
solve your
problem
3. Determine what you
are looking for in a
system & create a
cost-benefit analysis
6. Throughout the
process, always keep a
“test-and-learn”
attitude with everyone
involved
5. Create an
authentication and
monitoring mechanism
to achieve the
security level for
access to digital
channels
4. Design an
implementation plan
and think about how that
solution will fit your
company’s success

18. Get in touch
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