February 27, 2017 // By Heather Zimmerman
Taking a financial services company from the dredges of analog operations into the light of the digital age can be arduous. We call this digital innovation. After forming a promising strategic vision, there are incremental steps to follow in order to innovate successfully and help your organization become more scalable, customer-centric, and digital all-around.
Often times financial firms struggle to meet their innovation goals because of the internal barriers that complicate progress. We set out to define these barriers by actually researching the state of innovation for financial services firms.
In partnership with Forrester Research, we surveyed 201 digital innovation decision-makers at leading FinServ firms to evaluate the readiness of the financial services industry to innovate successfully in digital. The results found conclusively that many firms have failed to push innovation forward with a disciplined approach, and thus have fallen behind those who have fully committed.
The most illuminating description of this issue showed that structural and cultural barriers were the most significant barrier holding these leaders back from reaching their goals.
Source: Digital Innovation: The Readiness of Financial Services Firms, Magenic and Forrester Research, 2016
To help firms struggling with the internal barriers that we found as the main impediment to innovation, we have produced a webinar that will illuminate the key steps to making a real impact in financial services firms. The webinar will show how to:
- Sustain a disciplined approach
- Prove value early
- Identify barriers
- Embed innovation across your company
- Seek out capable innovation partners
At Magenic, we help financial firms develop their strategy and technology to move the needle of innovation forward, so we have a vested interest in assisting the progress of the industry. We hope you can watch this webinar hosted by myself and our research partner at Forrester, Alyson Clarke, so that you can start taking your firm to the next level of innovation maturity.