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Digital Transformation

The Importance Of Transformation Initiatives In Banking And Insurance

Conversations with our clients have shed light on what’s taking place in their organizations and how they’re approaching their need to become more profitable. It’s evident that, for many, transformation initiatives are in development or already in place. These initiatives are not short-term plans, but rather ones that span many months or even years. Without a doubt, some companies are going for quick wins – initiatives that can be carried out quickly, achieve efficiency immediately, and have a positive effect on the balance sheet. At the end of the day, any boost in revenue or reduction in expenses creates improved shareholder value.

These transformation initiatives enable companies to become more efficient and profitable. Streamlined operations foster an environment in which employees can focus on building stronger relationships with their customers, placing effort where it’s needed most. It’s a strategy that will help reduce financial and regulatory risk. It’s a strategy that benefits customers and shareholders equally. It’s a strategy for success and the long-term.

As we learn about the inner workings of these transformation initiatives, it becomes clear that they are either driven from the very top or, at the very least, have strong support from executives across departments. Management is being held accountable for achieving their goals of improved performance and profitability. They are not being judged by the effort put into these initiatives, but rather by the results.

In our newest thought leadership piece, The Executive’s Guide to Driving Efficiency in Financial Services, we explore:

  • How can organizations drive efficiency?
  • What initiatives do companies have in place?
  • What have been the results of these programs thus far?

Click here to download it.

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Eugene Sefanov

Director, Industry and Regional Marketing

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