***

Financial Services

Firms need to harness technology and keep innovating to retain the loyalty of customers and prevent reputational damage to their brand.

The availability of mobile applications and online experiences is increasingly important to customers. They want to access their accounts through mobile and connected devices and to pay for goods with a tap on their wearables.

Furthermore, over half of consumers would switch to a competitor if their digital experience does not live up to expectations.

Given the direction of travel in the industry, financial institutions (FIs) need to have a clear roadmap for technology and innovation. It is not enough to simply devise a digital strategy; instead, financial services firms need to have a business strategy focused on thriving in a fully digital world.