|Digital Transformation in Financial Services 2017|
September 21-22, 2017
DIGITAL TRANSFORMATION IN FINANCIAL SERVICES
By Professore Michael Wade
Financial Services companies, like banks, investment firms, payment providers, and insurance companies are facing significant pressures from digital competitors. These new competitors are often able to offer innovative products and services at a much lower cost. What’s more, they are receiving billions in funding from investors, which enables them to scale and grow at speed.
These threats are not only coming from inside the financial services industry. Companies like Tencent, a social networking company, are providing its hundreds of millions of active users with innovative financial products and services. 73% of millennials in the U.S. have expressed a willingness to buy financial services from non-traditional sources, like Google, Amazon, Apple, and Facebook.
How should traditional Financial Services companies respond to these threats?
During this event, you will be presented with the results of a major research project conducted by the Global Center for Digital Business Transformation, an IMD and Cisco initiative on Improving Digital Agility and Innovation in Financial Services. The research is built on conversations, surveys, and other input from hundreds of financial services professionals across different industry sub-sectors and geographies.
· How you can make your organizations more agile and innovative in response to digital opportunities and threats
· Anyone working within the financial services industry interested in better understanding how digital disruption is affecting the sector, and curious to learn about how to respond
This event features original research conducted by IMD’s Global Center for Digital Business Transformation.