Driving innovative products and services through digitisation

Corporate and transaction banking executives cite technology and digital acceleration as their most impactful macro trend this year as they strive to deliver more innovative offerings. To drive innovation in response to fast‑shifting customer expectations, executives are focusing on modernising their infrastructures and applications through real-time platforms, digitisation, automation, and new delivery models, such as the cloud. The goal is to create a modern IT landscape that is innovative, agile, and automated to drive a better customer experience, cost savings, and increased competitiveness.

As they focus on modernisation, executives continue to prioritise securing their businesses, managing mounting and changing regulation and security standards, and optimising their operations to reduce costs. Access to technology and IT talent, however, remain top constraints to achieving their priorities.

View key findings from our conversations with corporate and transaction banking executives in 2022 below, or download our report.

For more insights on macro trends, including social demographics, climate change, deglobalisation, technology acceleration, and supply chain reconfiguration, read our summary.

Top trends and priorities

Top macro trends

Technology and digital acceleration, notably rising customer and citizen digital expectations

Changing social demographics, including aging populations and talent shortages

Top industry trends

Real-time, low-cost, resilient platforms

Mounting and changing regulation and security standards

Technology advances and the adoption of technology

Top business priorities

Innovate products and services aligned to clients, business, and regulatory changes

Drive a client-centered operating model

Optimise operations to reduce costs

Top IT priorities

Digitise and automate business processes to deliver better customer experience

Protect through cybersecurity

Simplify technology landscape and adopt new delivery models

are producing results from their digital strategies, up from 17% last year
rate their organisations as being highly agile in addressing the impact of digitisation
report that their IT and business operations are highly aligned in support of their digital strategies

What digital leaders do to accelerate results

Among the 27% of corporate and transaction banking executives who report achieving expected results from their digital strategies, some common attributes emerge. Our table compares responses to questions from these digital leaders to those from executives whose organisations are still building or launching digital strategies (digital entrants). Learn more about the attributes of digital leaders.

Common attributes of digital leaders

Digital leaders

Digital entrants

Consider themselves to be highly agile 42% 22%
IT and business operations are highly aligned 79% 57%
Have deeply integrated IT and business operations 74% 26%
Are focusing more on cybersecurity 75% 39%