Digital Transformation in Financial Services
This book analyzes the set of forces driving the global financial system toward a period of radical transformation and explores the transformational challenges that lie ahead for global and regional or local banks and other financial intermediaries. It is
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Digital Transformation in Financial Services
Digital Transformation in Financial Services
Claudio Scardovi
Digital Transformation in Financial Services
123
Claudio Scardovi AlixPartners London UK
ISBN 978-3-319-66944-1 DOI 10.1007/978-3-319-66945-8
ISBN 978-3-319-66945-8
(eBook)
Library of Congress Control Number: 2017951149 © Springer International Publishing AG 2017 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Foreword
Everywhere we look, digital transformation is at the top of the agenda. Publications, think tanks, consulting firms (including the one I lead) all have views on how digital transformation will rewrite the future of industries—and especially the future of the financial services industry. Most agree, generally, on what digital transformation is: the profound impact of digital technologies on business activities, processes, and models. But they often disagree on how best to address it. How can organizations meet the challenges and seize the opportunities that digital transformation presents? How can companies develop the methods and tools they need to evolve their businesses in the right ways to truly become “digital”? These are the questions that Claudio seeks to answer in this book. To do so, he offers an approach that he argues could help banking and financial services institutions to digitally transform while also becoming more stable and more profitable. Specifically, he says these companies should: • take advantage of the dramatically increased availability of data and real-time information; • use machine learning/AI to build more organizational intelligence; • evolve a more inclusive, interconnecting intermediation
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