Published: 04 July 2024
Gartner research shows strategic partnerships directly support financial institutions’ growth initiatives, but aligning innovation with business outcomes remains a challenge. Financial institution leaders can use this research to learn innovative ecosystem approaches that can drive lending growth.
Based on our interactions with banking clients, we have found technologies are not the cure to drive lending growth.
In the next two years, more than 70% of the banking and insurance respondents from the 2023 Gartner Industrialization of Digital Business Survey expressed that they will significantly increase focus on product design and innovation capabilities.
Eighty-seven percent of financial services respondents from the 2024 Gartner Board of Directors Survey reported that their organizations have either achieved or exceeded return on capital employed in generating new products and services and revenue streams that required business model change.
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