Each year, CGI meets face-to-face with business and IT leaders to hear their views on the trends affecting their organizations. In 2018, we conducted 135 in-person interviews with retail banking executives to learn more about their top trends and priorities.
Regulation and security rise in importance
In 2018, the retail bank executives we interviewed said more emphatically than last year that addressing regulatory compliance and security risks has become their most pressing issue as they advance their digital transformation agendas. The impact of regulations and cyber threats has grown steadily, and both were cited as top global trends this year. Following closely as a top concern is the strain that digital demands are placing on legacy infrastructure.
Digital strategies start to take hold
This year, 87% of retail bank executives interviewed have a defined digital transformation strategy. Of these, 53% are launching, have operationalized or are realizing results from a strategy that includes their ecosystem partners, while 60% are at similar stages with internally focused enterprise strategies.
Culture change is top challenge to digital transformation
Cultural change and change management remains a top barrier to digital transformation, with some regional differences. Ninety-one percent of North American executives cited cultural change and change management as their top barrier, for example, while 87% of European executives cited regulatory compliance as their top challenge.
Benchmarking internal IT and more
This year, business and IT executives interviewed ranked their satisfaction with their own IT organizations based on 10 key attributes of a world-class IT organization. For retail banking, business and IT satisfaction scores are remarkably consistent. Satisfaction scores also are above the global average, and at or above the banking industry average for the most part.
CGI can provide clients with a discussion of all available benchmarking, including each client’s positioning, on topics such as digital maturity, IT budgets, IT satisfaction, innovation investments and more.
Discover the insight
Download the 2018 CGI Client Global Insights retail banking summary infographic for additional trend information. We also invite you to request a copy of our full report and to arrange a personal discussion with a CGI expert for further analysis and insights.
Also see the 2017 CGI Client Global Insights industry summaries.