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Seven Paths to Digital Leadership
Copyright © 2017, Oracle and/or its affiliates. All rights reserved. 2
Executives throughout the Financial Services Industry agree that digital transformation is happening; it’s not a questions of if, but how fast.
Copyright © 2017, Oracle and/or its affiliates. All rights reserved. 33
Early adopters will see large performance gains, the laggard penalty is a whopping $73 million per billion.
Copyright © 2017, Oracle and/or its affiliates. All rights reserved. 4
“If you don’t master technology, you won’t survive.”
On a scale of 1-10, the consequences of our industry moving too slowly on technology is a 12.
Matthew Peterson CHIEF WEALTH STRATEGIST, LPL FINANCIAL
Francisco GonzálezCHAIRMAN, BBVA
Copyright © 2017, Oracle and/or its affiliates. All rights reserved. 55
What makes a digital leader?
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Digital leaders perform differently
Derive 39% of revenue from digital
channels
Invest up to 19% of revenue into technology
Grew market share by 9% last year from
technological applications
Copyright © 2017, Oracle and/or its affiliates. All rights reserved. 77
What’s the path to digital leadership?
Here are 7 things digital leaders excel at:
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Map out a clear transformation
process to stay ahead of the industry in flux.
1
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Nurture a digital culture. Draw on advanced
analytics, smart technologies and a keen sense of the customer.
2
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Build a digital team fit for purpose such
as managing portfolios, attracting and service clients.
3
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Take customer centricity to the next level with digital first
engagement
4
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Rethink strategic priorities and technology usage to stay ahead of the curve.
Hint: Look to game-changing technologies such as cloud,
blockchain and artificial intelligence to drive growth and
customer engagement.
5
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Define your business case claim your place in the future
marketplace. Revenue impacts increase and cost impacts decrease as you
move up the digital curve. Use graph on key findings.
6
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Shorten time to market by using an open
banking cloud platform for digital innovation.
7
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Only 2.3% (35 firms) are now digital leaders.
Of 1503 firms surveyed
By 2022, 47% are expected to be digitally advanced.
20% plan to be leaders.
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Download the full research study here.
Source: Wealth and Asset Management 2022 The Path to Digital Leadership by Roubini ThoughtLab
Where do YOU plan to be?
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For information on how Oracle can help you with your digital journey visit here:
https://cloud.oracle.com/en_US/financial-services
Copyright © 2017, Oracle and/or its affiliates. All rights reserved.
Safe Harbor Statement
The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.
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