Study proves being a digital banking leader boosts financial returns
Being a digital banking fast follower may seem to be the safe play, but coming in behind the leaders no longer produces the results that financial investors will reward. Accenture study says it's time to strive to press to the head of the digital race, or risk languishing at the back of the pack.
As they labor to adapt to the digital age, banks and credit unions wonder whether all the investment and angst required to bring innovation to life will be justified by financial results. Does it actually pay to be on the leading edge? Or is the digital movement so hyped that the fast followers and even the “wait and see” pack could wind up doing just as well as those who step out ahead of the crowd?
Research by Accenture finds that being a pioneer is paying off, in two ways.
First, for those institutions that are truly “all in” on technology, which the firm calls “digital focused” players, efforts have started producing definite financial gains over those who are less committed, which the firm calls “digital active,” as well as over “the rest.”
Second, Accenture’s international study finds that digital focused institutions around the world are being rewarded for their efforts by the financial markets.
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