Now in its 22nd year, the Harvey Nash / KPMG CIO Survey 2020 is the largest IT leadership survey in the world, with over 4,200 responses from CIOs and technology executives across 83 countries, including more than 350 from the banking sector. So, what are their priorities and how are these being shaped by the COVID-19 pandemic?
The sector is already one of the most advanced in terms of technology-led transformation. But with the pandemic potentially posing significant revenue and performance challenges, digital transformation has become an even more urgent necessity: to improve the customer experience, increase operational efficiencies, support widespread (and ongoing) remote working, create scalability, and build necessary streams of data.
Some fundamentals remain, such as the top two priorities for boards: 1) improving operational efficiency; and 2) improving customer engagement – both long-standing priorities of the technology leader. As banks look towards economic recovery paths, 47 percent expect to ‘transform to re-emerge’ with operating models stronger and more inline with consumer priorities – and will need IT to support the transformation.
KPMG firms are some of the largest providers of services to banking & capital markets organizations globally, we take a boutique approach to client issues with a focus on flexibility, adaptability, and innovation. We recognize that there are many on-ramps to supporting IT transformation and we’ve tailored our services accordingly:
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