Banking

Outthink Competition in Financial Services through Digital Business Transformation

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Digital disruptors are forcing financial companies to re-invent themselves and rethink the speed of responsiveness to business and customer needs. Today the competition is coming in from all sides – within the industry and from other industries. Agile start-ups and innovative Fintechs not only increase the threat of losing customers but also impact business results. Financial institutions are left with no other choice but to push past the traditional boundaries and create a fresh bouquet of digital services for their customers. How do you respond to digital business transformation in financial services?

Disrupt or Be Disrupted

Today disruption is all pervasive – be it with technology, innovation or empowered customers.

  • The ubiquitous ATMs, so much a part of our lives now has replaced the memories of long queues of yesteryears waiting at the bank to withdraw cash.
  • Financial Services industry has seen a sea change in terms of disruption with the onslaught of digital invaders like Simple, Tesco Bank, PayPal, Square, Alibaba.com to name a few.
  • The need for speed and innovation pose a constant challenge when catering to an ever younger Digital generation.
  • According to Robert Leblanc, Senior Vice President, IBM Cloud, “80% of CXOs are experimenting with different business models or thinking of doing so” using cloud for innovation.

How financial institutions will be able to continue to provide confetti moments for their customers depends on how soon they embrace the change and begin their transformation journey.

Digital Business Transformation

Hear the perspectives from three companies, Westpac, Alpha Modus and Siemens Building Technologies as their leaders take center stage at IBM InterConnect 2016.

Three different industries, three different companies, three different business drivers, one common agenda – Digital Business Transformation

Westpac, Australia’s oldest company is using IBM Cloud to transform itself into a bank for the 21st century. With a plan of moving over 70% of their applications on cloud within the next 3-5 years, their focus is on bringing out digital and mobile services faster than their competitors.

Alpha Modus, a young Fintech startup company is disrupting the asset management business using Watson & IBM Bluemix to make market predictions and creating value for their customers.

Siemens Building Technologies with a challenge to find better experiences for their customers is transforming buildings and infrastructure into intelligent environments.

Watch this video to see how these successful leaders are addressing the digital challenges within their industries and discover compelling reasons for your company to leapfrog competition.

Continue Your Transformation Journey

Take an IBM DevOps Self-Assessment to evaluate your readiness for transformation or visit IBM DevOps for more information.

Learn more:

For the latest industry insights you can follow IBM Banking on Twitter and join the conversation around the latest industry events, trends and much more by using #IBMBanking in your tweets!

 

Content Strategist, IBM Cloud Marketing

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