Being able to adapt quickly has become vital to modern business. Unfortunately, while nimble startups and agile tech firms have the tools they need, banks and financial services companies are not known for their flexibility or speed. Even if institutions can get a grip on the blockchain or can define Defi, there are still huge regulatory barriers to everything a company tries to do.
Does this mean that banks should abandon the idea? You can probably guess the answer – of course not. What it means is that these firms need much greater efforts to become adaptable and be better able to deal with the unforeseen. Being ready to react means that financial services organizations will be able to bounce back quickly compared to their competition. As Gartner so adeptly put it:
“We are in a time of indefinite volatility”
This eBook will look at 4 major challenges facing financial services firms in the near future, and the opportunities that digital transformation can bring to financial services willing to embrace change. Download Now to find out:
Why incumbent banks are struggling
How each challenge magnifies the others
The benefits that architecture brings to each solution