A third see digital disruption as opportunity not challenge

A quarter of financial services firms struggle to keep up with digital disruption, but just under 40 per cent still feel the trend provides them with new opportunities to grow.

This is according to research commissioned by Savoy Stewart and carried out by Futurum, surveying over 1,000 North American and Western European companies ranging from 50 to 50,000 employees.

Just over half of respondents stated their business had a proactive ‘opportunity-minded’ approach to technology, while just under a quarter admitted to having no approach to change.

With a further quarter of business seemingly adopting a passive ‘wait and see’ approach, it was perhaps unsurprising that 30 per cent of companies felt the impact of technological change over the past three years has made them less competitive.

But whilst 30 per cent of companies stated excitement about their ability to adapt over the next three years, only 18 per cent rated themselves as ‘digital leaders’. More common were the 36 per cent of companies that rated themselves to be ‘digital adopters’, with 22 per cent calling themselves ‘digital followers’.

Finally, 12 per cent of businesses stated they were ‘very worried’ about their ability to adapt to technological change, with 23 per cent rating themselves to be ‘digital laggards’.

    Share Story:

Recent Stories


Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.

Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.

Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.