The Top Nine Challenges to Digital Transformation for Financial Institutions

The IIF and Deloitte have launched a three-part series to explore how financial institutions are embracing digital innovation to tackle shifting market dynamics and disruptive forces, such as open data, changing customer expectations and disintermediation of the value chain.

The first paper in this three-part series,The Top Nine Challenges to Digital Transformation for Financial Institutions?, draws from interviews with more than 60 executives, regulators, and policymakers at leading financial institutions globally, asking what digital transformation means and what challenges financial institutions may experience along the transformation journey. This paper frames nine factors that can shape the success of digital transformation. We look at these factors from internal and external perspectives to see how they are commonly impacting the digital transformation journey of financial institutions.