More than half of financial services companies plan to accelerate the implementation of their next-generation technology strategies, according to a new global survey of 500 financial services C-suite executives and their direct reports released by Broadridge Financial Solutions, a global fintech leader.
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“Financial services players have shown they can adapt and change during the pandemic. Going forward, they will continue to drive digitization and mutualization to improve client experience, resiliency, and cost,” said Tim Gokey, CEO of Broadridge. “Prior investments in digital, cloud, and mutualized technologies have enabled companies to be more resilient during the crisis, and executives are taking careful note as they plan for the future.”
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Virtually all financial services companies expect the pandemic to affect their operating model and strategy toward next-generation technology. In the next six months, companies plan to focus on:
- Increasing cybersecurity and risk management (63%)
- Enhancing multi-channel client communications (60%)
- Improving customer engagement and experience (53%)
- Making significant cost reductions (45%)
Prior investments that were most beneficial in managing the pandemic were interactive digital technologies (72%) – defined as digitizing customer and employee experiences, workflows and operations along with cloud technologies (59%).
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