Financial Services Directors' Perception of Digital Transformation

Financial services boards of directors have complex, contradictory views of digital transformation’s industry impact. CIOs can use the results of a new Gartner survey to align their digital initiatives with directors’ strategies and better communicate with these critical decision makers.

Key Findings:

  • Among financial services board directors, digital and technology disruption is the most common business challenge, leading to overconfidence in emerging technologies.
  • Many financial services board directors are rather satisfied with the progress of digital transformation at their firms, and this will potentially undermine their CIOs’ efforts to drive IT strategies beyond pure digital optimization.
  • Fear of disruption and complacency about digital transformation efforts seem to dampen financial services board directors’ risk appetite for business model innovation.

CIOs and IT executives should:

  • Reinforce your role as a trusted partner of the board.
  • Ensure that the board of directors has a realistic and accurate view of the firm’s digital maturity.
  • Assess your firm’s appetite for risk and change.. 

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