Priorities for Adopting an Exponential IT Mindset in the Banking Industry
Adopting exponential IT is critical for business growth and sustainability.
- Security is essential to the operation of your bank, and advances in quantum computing will begin to present a real threat.
- Use of AI and autonomization is accelerating and reshaping operations. These technologies are going to redefine all aspects of products and services.
- New technologies are reshaping customer understanding, products/services, and risk. If your bank does not take action to adopt Exponential IT, you are risking your long-term viability.
Our Advice
Critical Insight
The retail banking industry is in the early stages of a significant transformation powered by new technologies that appear massive in scale and complexity. They feel out of reach for all but the largest and most complex banks. Your bank must formulate a strategy that allows it to not only participate but thrive while at the same time ensuring it remains secure and relevant.
Impact and Result
- Recognize the urgency of adopting Exponential IT. Your bank must start the conversation now on how Exponential IT will change banking to begin making the significant changes required.
- Understand the five priorities of Exponential IT transformation. There are five areas of focus that you must focus on as your bank develops its Exponential IT capabilities.
- Build the foundational capabilities and maturity required to begin an effective Exponential IT transformation that results in value creation.