Banking, Financial Services, and Insurance (BFSI) organizations are experiencing wide-ranging disruptions due to ever-increasing data security and compliance mandates, the exponential adoption of emerging technologies, and the evolution of FinTech-architected business models.
IT organizations are responsible for not only running massive and complex operational machinery, but also leading the charge to transform the business across products, processes, and experiences. IT is also responsible for managing an organization’s resiliency and sustainability and protecting it from security and compliance failures.
BFSI firms are re-inventing the IT operating model through a series of incremental changes that support near-term priorities, while creating a strong foundation via IT modernization and new platforms to deliver on long-term business goals. This re-imagined IT operating model requires digital engineering capabilities that can help BFSI firms build growth and differentiation capabilities at speed and scale.
In this viewpoint, we share Everest Group’s perspectives on accelerating digital transformation in the global BFSI industry and present industry practitioner observations made during a recent virtual round-table session that Everest Group moderated.
Scope
Industry: BFSI
Geography: global
Contents
In this viewpoint, we examine the following topics:
- Business and technology drivers for IT operating model evolution in the BFSI industry
- The principles of IT operating model evolution in the BFSI industry
- Measures to drive transformation at speed and scale to build a future-ready BFSI firm
Membership(s)
Banking Information Technology
Sourcing and Vendor Management
