Best Practice Report

Finance Firms Must Be More Aggressive In Their Innovation Efforts

Prioritize Disruptive Innovation To Ensure Future Market Leadership

April 26th, 2019
JS
James Staten
With contributors:
Matthew Guarini , Zhi-Ying Barry , Oliwia Berdak , Audrey Hecht , Ian McPherson

Summary

Digitally empowered customers, new competitors like Amazon or fintech startups, and emerging technologies are disrupting finance. But most incumbents have been too timid in their response, betting on incremental innovations. To lead, CIOs need to build a balanced portfolio of innovation types, including current service improvements, digital disruptor responses, and positioning yourself as a disruptor. These efforts require investments in emerging technologies and technology chains applied to evolving customer and business needs.

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