Across financial services, business leaders are striving to deliver the next wave of technology-led growth. The environment is challenging: they are facing prolonged economic uncertainty, fast-evolving customer expectations and increasingly stringent regulatory requirements. Advanced technology projects like machine learning, cloud computing and AI are often hailed as the key to navigating this risk-ridden landscape – and yet, for traditional financial organisations, buying new technology is only the beginning of the story.
Legacy systems, organisational silos and old-school IT strategy often mean that ‘disruptech’ functions as a bolt-on, implemented by one or two departments and impossible to deploy across business verticals. Meanwhile, fintech start-ups – laser focused, designed around specific customer needs, armed with all the latest tech and capable of processing enormous datasets – have been growing in size and number for a decade.
What can traditional banks, insurers and other players in the industry learn from these younger challengers? While digitising existing products and processes is the first step, incumbents must look at a fundamental shift in strategy if they are to maintain competitive edge. How can they develop flexible business models and tech-centric blueprints – and will this lead to true agility? What should they prioritise when evaluating strategy and distributing investment? And, crucially, what do these developments mean for the financial industry longer term?
The FT and Microsoft are delighted to facilitate this high-level editorial breakfast for experts in innovation, operations and transformation across the financial services sector. Join your peers to assess the disruptive forces at play in the industry today, and explore the impact that these will have on business models across the financial ecosystem.