While digitization helps businesses better address customer expectations, it has become just another management headache along with low interest rates, regulatory scrutiny, value chain fragmentation and consolidation pressures. Technological possibilities have turned into tangible options, and as such, management should treat these advancements as prioritized agenda items and reintroduce the need for machinery room capabilities.
While refining some key success factors already identified in our 2016 paper, this digitalization update note focuses on:
- Cost and revenue drivers impacted by digitalization
- A rapid review framework for fixing basic IT gaps preventing banks from successfully getting started with digitalization
- A maturity framework for assessing the current state of digitalization in banks
- An example case study on per-transaction cost effects from digitalization
A&M would be happy to discuss our insights and to help you digitalize more cost and revenue effectively.