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Established 1995
Tuesday 23 October 2018


Banking sector ‘most digitally advanced’

Written by Chris Lemmon

The banking and telecoms sectors are the most mature in the drive for digital transformation, a new study from Ovum has found.

The study was based on primary interviews with over 6,300 enterprises globally, asking senior ICT executives to rate their organisations against nine steps identified by Ovum as key to digital transformation.

These ranged from tackling cyber security, to developing digital skills, creating the necessary organisation structure and culture, to digitising processes, creating digital services, to having a clearly articulated digital strategy.

Across the 6,300 enterprises surveyed, only eight per cent considered themselves to have achieved transformation, and only a fraction over 16 per cent believed they are well-advanced. Almost a quarter (23 per cent) rates themselves to be still at the early stages.

Enterprises are most advanced in adoption of Big Data and API-based architectures with close to 40 per cent of respondents actively trialling or deploying these areas, with just under a further 50 per cent planning or considering to do so in the future.

Microservices and IoT are less currently advanced in terms of active deployment, but over 50 per cent of planning or considering to do so in the future. In contrast, while AI and blockchain are much discussed, actual traction by enterprises to use such technologies for digital transformation is much less developed.

Daniel Mayo, director of IT data tools and insights at Ovum, commented: “IT vendors and service providers that deliver the solutions that enable digital transformation can leverage Ovum’s ICT Enterprise Insights to identify the market segments with the most opportunity – by country, industry, or size of company. Along with prioritising market segments, the survey is an essential input in product planning, market messaging, and salesforce deployment.”

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