Seven Paths to Digital Leadership

Seven Paths to Digital Leadership

Copyright © 2017, Oracle and/or its affiliates. All rights reserved. 2

Executives throughout the Financial Services Industry agree that digital transformation is happening; it’s not a questions of if, but how fast.


Early adopters will see large performance gains, the laggard penalty is a whopping $73 million per billion.


“If you don’t master technology, you won’t survive.”

On a scale of 1-10, the consequences of our industry moving too slowly on technology is a 12.

Matthew Peterson CHIEF WEALTH STRATEGIST, LPL FINANCIAL

Francisco GonzálezCHAIRMAN, BBVA


What makes a digital leader?


Digital leaders perform differently

Derive 39% of revenue from digital

channels

Invest up to 19% of revenue into technology

Grew market share by 9% last year from

technological applications


What’s the path to digital leadership?

Here are 7 things digital leaders excel at:


Map out a clear transformation

process to stay ahead of the industry in flux.

1


Nurture a digital culture. Draw on advanced

analytics, smart technologies and a keen sense of the customer.

2


Build a digital team fit for purpose such

as managing portfolios, attracting and service clients.

3


Take customer centricity to the next level with digital first

engagement

4


Rethink strategic priorities and technology usage to stay ahead of the curve.

Hint: Look to game-changing technologies such as cloud,

blockchain and artificial intelligence to drive growth and

customer engagement.

5


Define your business case claim your place in the future

marketplace. Revenue impacts increase and cost impacts decrease as you

move up the digital curve. Use graph on key findings.

6


Shorten time to market by using an open

banking cloud platform for digital innovation.

7


Only 2.3% (35 firms) are now digital leaders.

Of 1503 firms surveyed

By 2022, 47% are expected to be digitally advanced.

20% plan to be leaders.


Download the full research study here.

Source: Wealth and Asset Management 2022 The Path to Digital Leadership by Roubini ThoughtLab

Where do YOU plan to be?

https://www.oracle.com/industries/financial-services/wealth-asset-management.html


For information on how Oracle can help you with your digital journey visit here:

https://cloud.oracle.com/en_US/financial-services



Copyright © 2017, Oracle and/or its affiliates. All rights reserved.

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Technology

Seven Paths to Digital Leadership