The Characteristics That Separate Banking Leaders from Banking Laggards
02 October 2017

The Characteristics That Separate Banking Leaders from Banking Laggards

Business executives will need to work with IT more closely than ever before, supporting technology.

Bain Research believes this problem is larger than IT; it is a strategic business challenge as well as a great opportunity. Technology executives now have a platform and an environment in which company leadership is keen to listen and support IT initiatives.

Business executives will need to work with IT more closely than ever before, supporting technology recommendations and gaining a clear understanding of the challenges and opportunities that technology affords.

Working together, they can move quickly to bring their banks, insurance companies and other financial institutions forward into the rapidly evolving digital age.

Bain Research recommends that Banks “reboot” their technology organizations. The transformation required—to the business, technology and organizational culture—is so great that it demands leaders challenge traditional assumptions about the ways IT and the business work together.

As executives move through this critical transformation toward their goal of becoming digital leaders, an interesting thing happens: They begin to think, hire, collaborate and operate more like technology companies.

Source: September 03, 2014 Bain Brief