This series of papers from the Institute of International Finance and Deloitte explores how financial services firms are implementing digital transformation. We look at the challenges, enablers and partnerships to capture more value from digital transformation and ensure success.
Prior to COVID-19, the financial services industry was evolving at a rapid pace, driven by changing customer expectations, heightened competition from incumbents and new entrants, evolving regulations, and advancements in technology. Digital transformation was well underway, evidenced by a proliferation of digital channels, tools, and challenger banks around the globe. This series looks at how firms are working to transform, and how COVID-19 exacerbated this evolution.