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Digitization Trends in the Financial Services Industry

Published By :

Timetric

Published Date : Sep 2014

Category :

Banking

No. of Pages : 58 Pages

Synopsis

  • The report examines key factors driving digitization in the financial services industry
  • The report identifies major challenges faced by organizations in the successful implementation of digitization
  • The report assesses how organizations are implementing, or planning to implement, digitization, and identifies preferred digital technology for back-office operations in the financial services industry
  • The report evaluates expected changes in product ranges and services offered as a result of digitization
  • The report examines overall budget shares that organizations intend to invest in digitization over the next two years
  • The report highlights executives’ expectations about changes in revenues resulting from value-added services over the next two years
  • The report examines the importance of social media in the future prospects of digitization in the financial services industry
  • The report identifies regions which will show the greatest advances in digitization over the next two years

Executive summary

“Digitization Trends in the Financial Services Industry” is a new report by Timetric that globally analyzes executives’ opinions on digitization trends, and identifies key factors and objectives driving and influencing organizations towards its adoption. The report also examines executives’ viewpoints about preferred digital technology for back-office operations in the financial services industry. It also highlights major challenges faced by organizations in the successful implementation of digitization, and evaluates projected budget allocations to digitization over the next two years.

Scope

The report features the opinions of financial services industry respondents about digitization trends in the financial services industry, covering the following aspects:
  • Key drivers for digitization
  • Pressing concerns in the successful implementation of digitization
  • Organizations\' approaches to digitization strategy
  • The impact and influence of digitization on product ranges and services
  • Projected budget allocations to digitization over the next two years
  • Revenue projections from value-added services over the next two years
  • The influence of social media on digitization prospects

Reasons to buy

  • The report highlights key goals which organizations intend to achieve through digitization, enabling companies to restructure their business plans.
  • The report enables readers to take strategic decisions by understanding organizations’ approaches to digitization, and identifying major challenges faced by organizations in the successful implementation of digitization.
  • The report examines expected changes in product ranges and services offered as a result of digitization. This will help companies to improve customer service and strengthen product development.
  • The report provides expectations about budget allocations to digitization over the next two years, which are likely to influence growth prospects.
  • The report highlights regions with significant advancement potential for digitization over the next two years. This will help to design better business expansion plans.

Key highlights

  • Cost reductions and improvements in customer service and engagement are driving digitization in the financial services industry
  • Most organizations are implementing or planning to implement digitization by themselves 
  • Business process management is the most preferred digital technology for back-office operations 
  • Revenues resulting from value-added services are projected to increase by 10.5% over the next two years
  • Asia and North America will show greatest advances in digitization over the next two years
Table of Contents

Methodology and sample size 
Key goals to be achieved through digitization
Key drivers of digitization
Major challenges in the successful implementation of digitization
Organizations’ approaches to digitization strategy
Preferred digital technology for back-office operations in the financial services industry
Impact and influence of digitization on product range and services
Projected services under digitization
Projected budget allocations to digitization over the next two years
Revenue projections from value-added services over the next two years
Influence of social media on digitization prospects
Regions with significant advancement potential for digitization over the next two years

Appendix

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