Rather than pulling back when the pandemic hit, many businesses—including financial institutions—accelerated their digital investments. Per a study conducted by BDO1, a global financial advisory services firm, more than 6 in 10 financial services firms added new digital projects this year, and over half are revising their long-term strategic vision.
Key areas of transformation include:
- Pursuing enterprise agility (51%)
- Introducing new digital revenue streams (51%)
- Expanding a digital partner ecosystem (49%)
- Digitizing the supply chain (45%)
- Adding new payment models (44%)
- Expanding into new markets (43%)