The Most Agile Banks

Banks are burdened with sizable infrastructure, struggle to service traditional and emerging channels, are severely boxed in by increasing compliance demands, and are not particularly nimble — also due to overly seasoned business applications. At the same time, the banking industry is ripe for digital disruption, as banks’ traditional strengths of size and breadth aren’t sufficient to ward off a mix of alternate financial service digital disruptors such as Google, new digital banks, emerging payment networks, and traditional institutions like Wal-Mart entering this market.

Business agility will be their most fundamental strength and competitive weapon. But how do leading banks today compare on agility? We surveyed 30 banks and determined that high performers excelled in market agility dimensions. We then ranked US banks using customer experience and product expansion scores. This report is due out this month so stay tuned.

Comments

Banks Transformation

I will be keen to see how those banks have transformed and became the high performer. What steps/initiative they have taken that might have fundamentally changed the way they used to operate vs how they will operate.

Also keen to see if there is any view of this on the Australian market.

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