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Technology … the business asset for driving future growth

Financial services (FS) firms believe digital capabilities are foundational to their competitiveness …

According to a survey by Accenture and Oxford Economics.*

invest in/or plan to invest in artificial intelligence to improve operations

invest in/plan to invest in cloud-based technologies to improve operational efficiency

Non-financial tech companies to play a major role in the FS industry …

FS firms have a maturing attitude towards technology …

FS firms expect the technologies they invest in to support their growth agenda …

www.accenture.com/TechAdvisory

*Source: “Technology in Financial Services, From Hype to Growth,” Accenture – Oxford Economics study, 2018

Copyright © 2018 Accenture. All rights reserved.Accenture and its logo are trademarks of Accenture.

34%41%

GET COMFORTABLEOUTSIDE YOUR COMFORT ZONEFINANCIAL SERVICES | Digital is Key to Competitiveness

68%

41% 34% 31%

Improve customer loyalty

Increasemarket share

Create new revenue streams

of respondents say data analytics and cloud apps are having the biggest impact on both their industry and their firm today

they expect the biggest impact to come from artificial intelligence and blockchain

Difficulty integrating new technology with legacy systems

Poor comprehension of digital innovations on the part of financial professionals

Lack of qualified employees with skills to operate new technologies

Legacy systems and tech literacy/skills – biggest obstacles to the digital transformation of the FS industry …

42% 42% 44%

of all FS respondents believe that in 5 years consumers will do most of their savings, investing and borrowing through non-finance platforms from firms like Amazon.com, Inc. and Google LLC.

50%About

3In

years

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