Taking risk on technology is crucial to competitive advantage: Banks are challenged to counter emerging threats, seize opportunities, and build an innovation pipeline. While digital organizations evolve, corporate labs, ventures, accelerators, and strategic investors lead the charge.
Banks’ success today depends on an organization designed to harness and nurture emerging technologies. This goes beyond meeting increasingly high expectations for the customer experience: It involves identifying business challenges, researching and sourcing technical solutions, and commercializing resources that will be critical to banks’ competitive advantage.
3 KEY QUESTIONS THIS REPORT WILL ANSWER
What are the greatest challenges facing banks’ innovation leaders?
Which technological changes do they anticipate?
What innovation strategies are they pursuing in response?
WHAT’S IN THIS REPORT? A look into technological changes and the strategies to address them as synthesized from interviews with top executives in charge of digital, innovation, and ventures at leading banks, as well as management consultants working with them.
KEY STAT: Growth in US bank technology spending peaked in 2022, driven by a rapid rise in “change the bank” expenses. While the burst of growth will taper off, we expect already high technology spending to rise to $111.73 billion in 2026.
Here’s what’s in the full report
2files
Exportable files for easy reading, analysis and sharing.
5charts
Reliable data in simple displays for presentations and quick decision making.
Executive Vice President and Chief Digital Officer
Interviewed August 31, 2022
Access All Charts and Data
Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, included at no extra cost.
Digital Transformation Leaders Worldwide Who Believe Blockchain Technology Will Be Instrumental in Realizing Their Digital Transformation Plans, by Industry, May 2021 (% of respondents in each group)
Digital Transformation Leaders Worldwide Who Believe Blockchain Technology Will Be Instrumental in Realizing Their Digital Transformation Plans, by Industry, May 2021 (% of respondents in each group)