Digital transformation is one of the most dominant topics in the financial services industry today. For the players, namely the banks, there is a lot at stake—namely their own survival. This situation is connected to fundamental issues: On the one hand the unstoppable progress of digital transformation requires a thorough understanding of the needs of a new customer generation, on the other hand the arrival of the digital age is associated with significant investments in processes and customer interfaces. On the challenging way to the future, the individual financial institutions follow different strategies and concepts.
In light of this, the Swiss Finance Institute (SFI) is working on a representative study on “Digital Transformation & Disruption” in close collaboration with zeb, the #1 strategy and management consultancy in the financial services industry in Europe to date.
The study analyzes the impact of digitalization on Swiss banks’ business models and compares it to a European context. At the same time, it examines the status quo of digital transformation and the different ways in which banks approach it. The study is based on a broad survey, personal interviews with management board members and experts from prestigious institutions as well as on the expertise of renowned researchers from the financial sector. As part of the study, relevant benchmarks in various dimensions are defined and, based on these, the digital maturity level of the Swiss banking sector compared to other European countries is derived.
The study on “Digital Transformation & Disruption” can be downloaded here.