Digital maturity is one way of gauging a company's level of success on their road to digital transformation; and there are many factors involved in assessing this. In this white paper we focus on five areas that, from our experience, play a vital role in theroad to digital maturity with investment managers in mind.
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The Road to Digital Maturity for Investment Managers
1. The Road to Digital Maturity
for investment managers
✔ Becoming customer-centric
✔ Using the right technology
✔ Managing and leveraging data
✔ Investing in people & culture
✔ Protecting and mitigating threats
2. The Road to Digital Maturity for INVESTMENT MANAGERS2
Becoming
Customer-centric
Using the right
Technology
Investing in
People & Culture
Protecting &
Mitigating Threats
Managing &
Leveraging Data
THE ROAD TO
DIGITAL MATURITY
INTRODUCTION
Digital transformation has entered almost every industry. From financial services
to healthcare, enterprise-level organisations are having to rapidly adapt to the new
digital landscape, or risk losing business or worse.
Digital maturity is one way of gauging a company's level of success on their road to
digital transformation; and there are many factors involved in assessing this. In this
white paper we focus on five areas that, from our experience, play a vital role in the
road to digital maturity with investment managers in mind.
1. Becoming customer-centric
Customer-centricity needs to exist at the core of a digitally mature business model
and also become deeply embedded into organisational culture to be effective.
2. Using the right technology
Underpinning the digital success, the correct balance of technology and talent will
drive a company towards digital maturity.
3. Managing and leveraging data
We are living in a data-driven world. Being able to effectively manage and leverage
data in your industry has become a crucial requirement.
4. Investing in people and culture
Long term growth and achieving digital maturity can only come with the right
investment in people, ongoing training and cultural change.
5. Protecting and mitigating against cyber-threats
With the growing level of cybersecurity threats, we feel security has become a
cornerstone in becoming a digital leader.
3. The Road to Digital Maturity for INVESTMENT MANAGERS 3
Many companies are in their infancy of a digital transformation, encompassing all
aspects of their business to redefine how they operate with digital at the centre. We
see digital transformation as a journey involving a complex ecosystem of capabilities
and operational processes. Analysing digital maturity helps to shine a light on where
businesses need to make changes fuelling the digital transformation of a business.
Digital maturity can be measured across many segments of business functions;
technology, operations, HR, process and innovation - all focused on a centralised
efficiency around digital. In order for organisations to reach digital maturity, they need
to reach all competencies by equal measure.
It's clear from seeing the market penetration that many FinTech companies have
achieved, with digital at the heart of their proposition, that asset and wealth managers
have a fantastic opportunity. They can maximise the commercial benefits from
investment into digital experience and blur the lines with the FinTech leaders.
Asset and wealth managers need to lead both the ability to acquire and retain clients
built around the impact of digital. Improving client satisfaction, customer experience
and efficiencies in business operations will lead to increased AUM and revenue.
Accessing digital maturity can be used in each phase of businesses digital
transformation to help identify where there are gaps, establish key areas to focus
on, and where to start. You will see through our digital transformation white paper
the areas we have focused on attain to a truly holistic approach to digital and
commercialising it through a business.
Whether you need to create a centralised data strategy, consolidate a disparate
technology footprint or build out a omni-channel analytics strategy, all of these work
streams help measure your digital maturity and will keep you focused on the business
objectives to see the value of investing in digital.
As digital continues to change markets in where we find and engage with customers,
organisations are transforming, evolving and redefining their strategies to adapt to new
trends and market demands that are being driven by customer preferences. No digital
transformation or maturity measurement should work on business efficiency alone –
it’s vital to build a customer-centric strategy.
From our annual digital marketing
survey, we can see large percentage
of the ‘developing’ segment of
asset managers are planning to
increase their digital investment
in the coming 12-18 months
which will lead to a deeper level of
digital success in asset and wealth
management.
Gauging your businesses digital
maturity today will help your
organisation make better and more
focused decisions around digital,
and will ultimately lead to material
benefits to your business and
customers.
Rich Watts
Global Head of Digital, Kurtosys
Driving digital transformation - a roadmap to digital maturity
0% 10% 20% 30% 40% 50% 60%
Basic
Developing
Mature
Advanced
35%
52%
11%
2%
Source: The Kurtosys Asset Management
Digital Marketing Survey 2018
When we asked 200 senior marketing executives to
"At what stage of maturity would you say your
company’s digital marketing is currently at?"
4. The Road to Digital Maturity for INVESTMENT MANAGERS4
Lorem Ipsum Dolor Sit
Lorem Ipsum Dolor Sit
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Prioritised activities
Volume based KPIs
Defined vision & strategy
Quality based KPIs
Sponsorship &
increased investment
Holistic KPIs
Integral part of
strategy development
Agile strategic
approach
Business aligned
strategy & roadmap
Value based KPIs &
weighted attribution
Active championing
& investment
Lorem Ipsum Dolor Sit
Support but basic
Digital
Maturity Assessment
Strategic Approach
Performance Improvement Process
Management Buy-In
No specific skills Core skills centralised Centralised &
dedicated resources
Balanced blend of
marketing skills
Decentralisation
& re-training
Resourcing & Structure
Limited & dated Separate data, tools & IT Partially integrated
systems
Flexible approach to
optimise resources
360 degree data sourcesData & Infrastructure
Not integrated Responsive experience,
but not personalised
Partial personalisation Full contextual
personalisation
Integrated, personalised,
web, mobile & social
Integrated Customer Experience
No strategy
No KPIs
Limited
No Strategy
Optimized
“Market
Leading”
Defined
“Competent”
Developing
“Basic”
Quantified
“Above
Average”
Ho
In
stra
Agile st
appmap
Value based KPIs &
ighted attribution
ive championing
& investment
d resources
Decentralisation
& re-trainin
urcing &
Limited & dated Separate data, tools & IT Partially integrated
systems
360
Responsive experience
MEasuring digital maturity
Before embarking on a full digital transformation initiative, it's important to try and
gauge where your organisation sits on a scale of digital maturity. There are many ways
to assess this, but the diagram below is one way to approach it - which is pitched at the
enterprise company level.
Measuring your company's digital maturity can help your organisation:
»» Benchmark against your competitors
»» Identify areas that need improving
»» Highlight your strongest areas
»» Setting targets and strategic goals for the future
“Going digital is more like a journey than
a destination. Predicting and preparing
the next level of digitalization is an
iterative learning and doing continuum.”
–Pearl Zhu, Digital Maturity: Take a Journey of a Thousand
Miles from Functioning to Delight
5. The Road to Digital Maturity for INVESTMENT MANAGERS 5
Customer-centric companies are 60% more profitable compared to companies that are not focused on
the customer (eConsultancy). This is a powerful statistic and should resonate with any industry with a
goal of achieving digital maturity. Only by changing an organisational culture from the top down, and
deeply embedding a customer-first strategy from within, can companies expect to see any effective
results.
Let's look at these key factors around becoming customer-centric.
Improving the digital journey for customers (and buyers)
According to KPMG, 89% of CEOs expect to be competing on the basis of customer experience.
Improving the CX across your digital footprint is now considered perhaps the most important step in the
road to digital maturity.
Many enterprise-level companies have complex buying cycles. It's easy to talk about 'Amazon-like
experiences' in the consumer world, but if you work in an industry where a sale might take six months
and there are 10+ stakeholders involved, then it's a different ball game. This could be why, according to
McKinsey, B2B companies lag behind in customer experience ratings (averaging less than 50% compared
to 65-85% for B2C companies).
With multiple buyers involved, analysing and improving the
B2B buyer journey is therefore not an easy task, but not
impossible. By mapping and recording the journeys of your
existing customers you can start to see where improvements
can be made.
Whilst this process might expose flaws in your internal
processes, it's important not to lose sight of the objective of
the exercise. How can you improve the buying journey for
your customers? Are you effectively able to capture all of the
metrics when looking at the buyer journey?
becoming customer-centric A Customer Success Perspective
One of the biggest challenges every enterprise faces
is the alignment between their service providers and
the business units they serve.
Regardless of industry sector every organization
that provides services or product to a customer must
have the ability to demonstrate value and relevance.
They also need to ensure that every customer gains
the maximum return on the investment they have
made in the shortest possible time.
In this customer-centric, focused world Customer
Success plays a key role in addressing this challenge
by establishing credibility, building trust, identifying
pain points, clarifying shared goals and providing
thought leadership from both an industry and
product perspective.
The Customer Success Manager, Account Manager,
Business Relationship Manager or whatever name
an organization places on this primary customer
facing relationship role must employ various
techniques to clarify strategy, stimulate innovation,
prioritize investments, mobilize the appropriate
resources and help ensure that business transitions
deliver the full value that was expected from them.
By providing this, over time an organization can
help their customers reach a new level of maturity
and take the customer / provider relationship level
from “Ad Hoc” to “Strategic Partner”.
Graham Harman
Global Head of Customer Success, Kurtosys
6. 6 The Road to Digital Maturity for INVESTMENT MANAGERS
Improve personalisation for different audiences
Personalisation has become a big deal in recent years. If you are looking for a shiny new
DXP (Digital Experience Platform), then you will see personalisation as one of the top
promoted features, and for good reason. In amongst an explosion of content marketing,
we need a way to direct our messaging to the right buyers.
If you are familiar with Account Based Marketing (or Sales), then you will already
know that deep personalisation is a prerequisite for success. The same can be said for
communicating to your customers - more so in fact, since you should know a great deal
more about your customers versus potential buyers.
In 2018, Gartner predicted companies that have “fully invested in all types of
personalisation” will outsell by 20% companies that haven’t. Technology has become
the enabler to getting a personalisation strategy right, but success comes back to
becoming truly customer-centric across the board.
Personalisation also goes well beyond email. Websites, documents and data can all be
managed to suit different audiences, including customers and prospects. Enterprise-
level websites should consider these factors in their personalisation strategy:
»» Geography
»» Language
»» Customer or prospect
»» Industry/vertical
»» Buy-stage
»» Account/company
Being able to leverage the right data is a key component to much of this - by using a
website platform that is fully integrated to your CRM, Marketing Automation and
other systems. Personalising documents from the same source is also of huge benefit
to companies who need to automate customer-facing or marketing documents.
0% 10% 20% 30% 40% 50% 60% 70%
Personalisation & targeting
Data-driven marketing
Marketing automation
Video marketing
Chat bots / AI
62%
45%
41%
Mobile marketing 10%
21%
Voice optimisation 0%
4%
Two options chosen
Source: The Kurtosys Asset Management Digital Marketing Survey 2018
When we asked 200 senior marketing executives to "Name two areas of marketing that will
be a priority for your department in the next 12 months"
Further reading:
The Asset Manager's Guide To
Improving UX Through Personalisation
7. 7The Road to Digital Maturity for INVESTMENT MANAGERS
Measuring success and improving
When we think about customer feedback we think about the B2C world, but being able
to capture and effectively use feedback in a complex B2B environment is essential.
By building an effective digital platform across your business, adding feedback
mechanisms across multiple digital touch points should become an important segment
in your roadmap to digital maturity. In B2B, the number of touch points can be vast and
the measure of success can be hard to track. Here are some examples of KPIs typically
tracked by enterprise-level companies:
»» Churn Rate
»» Monthly/Annual Recurring Revenue (ARR)
»» Lifetime Customer Value (CLV)
»» License Renewals
»» Net New Customers
»» Customer Satisfaction (e.g. Net Promoter Score)
Directing feedback
A big part of a successful feedback loop in B2B involves personalisation. There
could be a large number of contacts at an organisation who you work with, but you
should consider targeting selective stakeholders. When using feedback mechanisms
like surveys, you should personalise and adapt the questions for different levels of
seniority. A C-level contact will not necessarily be using your product, but a mid-level
manager will - the wrong types of question can negatively impact feedback and cause
frustration.
Democratising customer data
Another key element to improving and becoming customer-centric is democratising
your analytics and data across your company. Having customer data siloed away and
inaccessible is a backward step away from digital maturity - remember that in order
to embed customer-centricity into your culture you have to empower your teams. The
integration of systems is a critical factor here, which we will explore in the Technology
Stack section further on.
YOUR
CUSTOMER
NEEDS
CUSTOMER
CENTRIC
YOUR
COMPANY
WANTS
The sweet spot between what your customer needs and what your company wants.
“Get closer than ever to your
customers. So close that you tell
them what they need well before
they realize it themselves.”
–Steve Jobs, Apple
“If you’re not taking care of your
customer, your competitor will.”
–Bob Hooey, Motivational Speaker
8. The Road to Digital Maturity for INVESTMENT MANAGERS8
USING the right technology
The right technology strategy is critical in the road to digital maturity. Whilst
technology is not an instant solution to digital transformation, it does play a vital role
in the mix of people, culture and strategy. According to the Kleiner Perkins Internet
Trends report, the average enterprise uses 91 marketing cloud services, and that's
just in marketing! A further 90 services in HR, 60 in accounting and 41 in software
development. As the number of cloud-based applications increases, the challenge is
now to maximise effectiveness, integrate services and, where necessary, consolidate.
Automation
Good technology products should solve problems, save people time and reduce the
burden of manual tasks. Automation using technology is one way to digitally transform
traditionally manual processes in large businesses - for example, document automation
where frequent documents are required with updated data and regular content.
Effective document automation (at scale) relies on an aggregated and accessible source
of data - once established, that 'golden' source of data can be utilised across documents,
websites, apps and distributed to third-parties and partners.
Integration
Integration has become a vital 'feature' for any cloud-based technology. After any
software demo, one of the most common questions will always be "great, but can I
connect it to...?" Software integration is so important that it has become a business unto
itself, with successful startups like Tray.io offering a platform to connect applications
together.
When building a software 'stack' for any complex digital project, integration will be high
on the priority list when assessing vendors and platforms. For example, a marketing
stack could involve a CMS for web content, a marketing automation platform, a CRM,
video content, a webinar channel, social channels and so on.
If these services are not able to integrate neatly together then the result is a
disconnected series of services with disparate metrics that would have to be manually
aggregated. Also this route often comes with a negative effect on the user experience,
not to mention the implementation.
Living in the API economy
Integration effectively means making use of APIs. Ever since Forbes talked about "the
year of the economy" back in 2017, that term has become widely used in the digital
world, but for good reason. The article also contained a useful diagram to illustrate a
"Cloud Platform API Maturity Model" as shown below:
One great example of why APIs matter so much, is how WordPress have developed
their own REST API. Without going into technical specifics, what WordPress have done
is open up their open-source platform even more to developers. In a nutshell their
REST API enables the platform to interact with just about any site and web app, at the
same time communicate and exchange data regardless of what languages an external
program uses.
Why does this matter? Well it goes back to the huge benefits of true integration. If
you're building a technology stack then you should get familiar with what APIs can do,
both for inbound and outbound data.
9. 9
Consolidation
We're living in an age of rapid innovation - there are literally thousands of SaaS
applications available across all industries. Scott Brinker illustrates just one area of
this, with over 7,000 apps listed in his martech 'supergraphic'.
If you do an audit of how many cloud-based apps your department is using, you may be
surprised. Some applications are obviously critical to business use, but with many niche
applications around that are dedicated to one purpose, it's probably time to review and
work out which ones can be consolidated.
Benefits of a Digital Experience Platform
Consolidation of technologies is exactly where a digital experience platform can help.
Built upon a range of applications, a good DXP should offer multiple ways of creating,
managing and distributing content as well as provide a deep level of integration to
other services so that it becomes a hub.
Some DXPs specialise in e-commerce, some offer more solutions for specific industries
such as financial services. The important part is finding a platform that caters for your
enterprise, and working out which services will help consolidate or streamline your
overall technology stack.
One example is using a DXP that offers services such as document automation, data
management, website management, user authentication and so on.
DXP
CRM
MARKETINGAUTOMATION
ANALTYICS SOCIAL
E-COMMERCE
APIS
DATA
CMS
DOCS
USERS
CONTENT
PORTALS
A Digital Experience Platform should cater for all digital aspects across an enterprise
The Road to Digital Maturity for INVESTMENT MANAGERS
“It’s supposed to be automatic,
but actually you have to push
this button.”
–John Brunner
10. 10 The Road to Digital Maturity for INVESTMENT MANAGERS
MANAGING AND LEVERAGING DATA
Data is the bedrock for marketing and sales in most enterprise organisations. Every
decision and every initiative is likely backed up by data of some kind. It's therefore
another important milestone in the road to digital maturity that data is accessible,
aggregated and easily consumed by all teams across an organisation.
Sales Enablement
If you’re selling investment products, having the latest data is vital, but also having
accurate and consistency data across marketing collateral is imperative. According to
Aberdeen, 84% of sales reps with best-in-class sales enablement teams achieve their
quota, compared to just 50% of sales reps with sub-par sales enablement.
Asset managers will have many data sources so the process of enabling sales with the
best materials can be a convoluted process. Additionally, everything needs go through a
compliance workflow which can slow things down even further.
To this end, having one web-based centralised data hub which aggregates financial data
from various sources – but accessible in a marketing-friendly UI – is one way for CMOs
to empower sales teams.
With one central data source powering web pages and materials such as marketing
documents, APIs can deliver the same data into office documents such as PowerPoint
slide decks. For example, financial advisors could update their slides with the latest data
without even asking the marketing/data teams, thus enabling them to quickly get on
with their job and sell.
The CRM plays a vital role in the story of sales enablement, with many enterprise
organisations using their CRM as a platform. Most company departments are piping
data into their CRM so that executives can see aggregated data attached to an account
or contact. Everything from product, support, account management, sales, marketing
and operations - integration to your company CRM is therefore vital when considering
further technology.
“Data is the new oil.”
–Clive Humby
“We’re entering a new world
in which data may be more
important than software.”
–Tim O’Reilly, O’Reilly Media.
Further reading:
Improving Sales Enablement
for Asset Managers
11. 11The Road to Digital Maturity for INVESTMENT MANAGERS
Improving Account-Based Sales & Marketing
ABM is one of the hottest topics around in the world of marketing. Many marketers
who've worked in financial services could argue that they "always been using account-
based techniques" in their sales and marketing processes, since they regularly chase
individual companies. But in a highly competitive world where asset managers
in particular are facing many challenges and threats from disruptors and stricter
regulation, technology can hugely improve account-based sales and marketing and give
companies that edge they need to beat the competition.
Successful ABM campaigns rely on deep research and hyper personalisation of content
that can help target individual prospects and accounts. In financial services, accurate
and compliant data is a critical piece of the makeup in this process.
According to B2B research and advisory firm SiriusDecisions, 30% of marketers that
worked in an account-based manner reported greater than 100% engagement increase
with their C-level targets. But it's not just C-level targets that ABM can improve -
companies that use ABM become 67% better at closing deals when they sync their sales
and marketing teams (based on a report from Marketo).
Using data across online and offline campaigns
It's easy to think of digital first when we think about leveraging data - but a huge part
of marketing and sales in financial services still (unfortunately) revolves around printed
materials. As per our earlier point of large organisations using their CRM as the master
source of data, the same can be said for financial data that is aggregated from multiple
sources, then distributed across online and offline channels.
Sales enablement and account-based sales and marketing all revolves around utilising
data from one trusted source. Fund managers for example need an efficient and
compliant source of data to populate both their product pages online and their PDF
factsheets and prospectuses. The combination of CRM and Fund Data can be used as
a powerful source when automating large amounts of investment products - with the
added effect of deep personalisation with client and product data.
TRADITIONAL DEMAND
GENERATION FUNNEL
awareness
interest
consideration
purchase
ACCOUNT-BASED
MARKETING FUNNEL
IDENTIFY
EXPAND
ENGAGE
ADVOCATE
12. 12 The Road to Digital Maturity for INVESTMENT MANAGERS
INVESTING IN PEOPLE & CULTURE
Digital transformation is more about people than technology. Technology is the enabler
but true change is only possible through a fundamental shift in culture. That move to a
truly digital culture also involves investment in people and training - it is not about firing
your employees and hiring younger people!
By adopting new processes and breaking away from traditional methods across an
entire organisation, companies can take another step forward. A classic issue across
financial services companies has been the disconnect between sales and marketing
teams. Different departments needs to work together and "sync" their data, processes
and communications to see and improvement.
Although now a few years old, the McKinsey research into this tells a significant story,
as they discovered cultural and behavioural challenges are the most significant barriers
to digital transformation success.
“Digital used to be about
coding and IT; now it’s
becoming a people business.”
–Mary Kate Loftus, M&T Bank
“You can’t delegate digital
transformation for your
company… You and your
executives have to own it!”
–Barry Ross, Ross & Ross International
13. 13The Road to Digital Maturity for INVESTMENT MANAGERS
Acceleration through low-code/no-code
One highly positive move in the world of digital, has been the recent advances in low-code or no-code
web development. Modern web page builders in CMSs such as WordPress mean marketers can design
and build campaigns with little or no HTML knowledge. Drag and drop components allow executives to
quickly perform actions that previously required custom development - such as gating content behind a
login, or adding fund performance tools onto a product page.
Low code is useful for automating manual processes in a visual environment, but still with access to
some code for more advanced configurations. For example CRMs such as Salesforce adopt a low-code
environment but also allow developers to use code for more complex actions and rules, as well as app
development using their proprietary language Apex. WordPress is also another good example of a low-
code environment for marketing teams, where visual interfaces are co-joined with access to code.
No code environments include even more visual user interfaces, often with drag and drop functionality.
Analytics platforms or marketing automation platforms are good examples of no-code environments,
with visual UIs allowing marketers to create triggers, rules and complex automation processes with zero
coding involved. The explosion in API platforms such as Tray.io or Zapier also allow people to create
complex actions with no coding required.
Agile working
Moving to an agile methodology is a positive step towards digital maturity. Large projects with long-term
deadlines cause stress and aggravation, not to mention problems with delivery and implementation. By
moving to agile and breaking projects into smaller chunks, teams can see a positive change and celebrate
success as each milestone is achieved. Large enterprise website projects are a perfect example of how
agile can create a smoother delivery by using a phased approach to delivery and avoiding bottlenecks and
hard deadlines.
Agile has been well documented to increase productivity, improve well-being of staff and reduce
operating costs. One of the major benefits for customers is seeing a project move forward in steps and not
having to wait in frustration for hard go-live dates.
Value experimentation
Give people freedom
Break down silos
Organize for collaboration
Be open to outside suggestion
Consult with experts
Use data-driven decisions
Distribute decision-making
Move to the cloud
Invest in continuous training
Move to agile working
14. 14 The Road to Digital Maturity for INVESTMENT MANAGERS
PROTECTING AND MITIGATING THREATS
You may not consider cybersecurity as a big part of digital maturity, but in the era
of heightened threats online, digital security is vital. With an ever-increasing digital
footprint in a large organisation - and especially in financial services - cybersecurity
needs to be a huge consideration with all technology and processes.
According to a joint Akamai & Forrester report from 2017, security breaches at large
firms (with $100m+ in revenue) can have a pretty devastating effect across a business.
With brand or reputational damage being the highest, reduced trust and sales are all
affected in a big way.
Akamai & Forrester report: "Drop A Pin At The Intersection Of Digital Experience And Security"
The report also brings attention to how companies struggle to balance security with
digital experience. It seems that the most secure companies are weaker on the digital
side, partly to do with legacy systems and less cloud-based architecture.
Whilst there is a lot of emphasis with acceleration in digital transformation, which is
also includes terms like experimentation and agility, security should always be part of
the foundation across an enterprise - both in the technology and the culture.
Authentication and user management
As companies become more digitally mature - their user base grows significantly,
both in actual users and number of systems being accessed. User authentication and
management is a critical factor in reducing data breaches and risks.
Single-sign on architecture is one way to reduce the number of accounts and potential
risks across users. By connecting services together and using a central user account
such as a Salesforce login, this can also improve the user experience for your team as
well as reduce risk.
Multi-factor authentication is the obvious choice in the road to better security.
Large banks have long been using services like RSA to authenticate users across their
networks, but as the number of cloud services increases - other two-factor systems may
be necessary to slot in to cover newer systems.
Choosing software with flexible security features
Enterprise financial institutions have common Infosec requirements for security, so it's
important to take that into consideration when choosing software. Password expiry and
complexity settings, MFA settings, IP restrictions are the kinds of configurable options
that need to be catered for at enterprise level.
Content Management Systems and websites are a common target for DDoS and brute-
force hacking attempts, so it's imperative that they are fully secure in all areas and are
regularly assessed as part of penetration testing.
Achieving the balance between agility and security
Security should not be the roadblock to achieving digital maturity. There must be a
balance between moving ahead and staying secure. Working with your Information
Security Team and staying transparent and open is one way to effectively achieve
this balance. Many security risks or data breaches are caused by human error, so a
continuous program of security awareness is as vital as technology to prevent hacks.
15. 15The Road to Digital Maturity for INVESTMENT MANAGERS
The average cost of a data breach is $3.86 million
(IBM)
30 percent of companies have over 1,000
sensitive folders open to everyone (Varonis)
27 percent of data breaches are caused by
human error (IBM)
Enterprise ransomware detections rose by 21
percent since 2017 (Symantec)
80 percent of organizations planned to increase
security spending in 2018 (ZDNet)
The average time to identify a breach across all
industries is 197 days (IBM)
40 percent of security incidents in 2017 were DoS
attacks (Verizon)
The Cybersecurity Maturity Model
Just as there is a digital maturity model there is also one dedicated to cybersecurity.
The cybersecurity maturity model below is something based on research from MIT
Sloan (the business school of the Massachusetts Institute of Technology).
Their research identified a simple yet telling series of steps around the culture
which underpins a successful strategy in cybersecurity.
Starting with employees' perception that the technology they use has security
features (so it considered "taken care of"). Then progressing through to stages
where their IT or management team are responsible for cybersecurity and it is "not
their problem".
In the final stage where cybersecurity related process and policy is embedded into
every aspect of an organisation, then it becomes everyone's responsibility. When
organisations are at this level, they have achieved another major milestone in the
road to digital maturity.
LEVEL 4
"Cybersecurity is everyone's job"
LEVEL 3
"Managers will make the business secure"
LEVEL 2
"The IT department will take care of it"
LEVEL 1
"The technology has security features"
16. ABOUT Kurtosys
Kurtosys provides a unique Enterprise Content Management system for
financial services firms. The Kurtosys platform enables marketing, sales, client
service and operational departments to orchestrate all of their financial data,
documents, websites and content in a secure environment. Trusted by the
world’s leading investment brands, our platform enables financial institutions
to automate manual processes, mitigate risks and reduce costs.
Kurtosys solutions include secure websites, interactive data tools, automated
factsheets, secure portals and document libraries.
Our infrastructure and technology are underpinned by our global ISO-27001
certification in information security management; and we have a deep
understanding of working at scale with data, information design, industry
regulations and compliance issues.
Founded in 2002, Kurtosys was funded from Silicon Valley investment and
now operates across four global offices and employs over 200 talented people.
We work with some of the world’s largest financial brands that include banks,
wealth managers, mutual fund providers and alternative investments.
LONDON CAPE TOWN NORTH CAROLINA
77 Kingsway, 1st Floor, Mont Clare Place, 35 Main Road, 5171 Glenwood Ave,
London, WC2B 6SR, Claremont 7708, Suite 460, Raleigh NC 27612,
United Kingdom South Africa United States
T: +44 (0)800 029 1410 T: +27 (0)80 099 8415 T: +1 646 838 2030