For the second year running, GFT surveyed decision makers to gain insight on trends in Digital Banking. 

GFT surveyed 260 decision makers from 7 countries. The survey consisted of 66 respondents from Germany, 57 from Spain, 51 from Italy, 33 from Switzerland, 33 from the UK and 10 each from Brazil and Mexico.

To find out more see the key findings below, where you can also download the full report and infographics. 

If you would like to learn more about GFT’s expertise in Digital Banking visit our website or contact us at digitalbanking@gft.com

Key Findings

The progress runs slower than expected

Fully implemented Digital Banking solutions are in place for just 9% of the respondents which is only a slight increase of 2 percentage points up from 2015 results. But allmost all have started their strategy for Digital Banking.

Clear focus

Security issues have swung up to the most critical success factor as well as main barrier during the implementation. On top data management capabilities lag the importance attached to them in every area.

Bigger variety of branch types

Against other projections branches will still exist in the future, but digitalisation offers more options for banks and customers.

Current status of Digital Banking strategy

Current status of Digital Banking strategy

Only 9 percent of all respondents have a completely Digital Banking solution in place which is a slight increase of 2 percent points compared to 2015 and quite less than one could expect.

Almost all banks are well underway with their strategy but most them did not finish the implementation yet. More than 34 percent do have a complete strategy, another 60 percent are working on it. The preferred way is to develop the Digital Banking strategy before starting to implement the solution - implementation follows strategy. But anyway banks seem to work simultaneously on both.

 

Matrix about proceeding with development and implementation - in percent

Matrix about proceeding with development and implementation - in percent

 

The ability to deal with security issues have swung up to the most critical success factor, in 2015 it has been on rank 8. Banks must guarantee a safe infrastructure to execute their Digital Banking solution sucessfully. From a customer perpective this is more important than a consistent user experience based on omnichannel solutions which has been key success factor last year. Also risen in its importance is co-innovation with customer´s feedback.

Next to security issues any kind of regulations are named as the hardest barriers within the development and implementation of Digital Banking solutions. Banks have to consider a lot of international and national requirements on their way. 

Key succes factors vs. main barriers - ( ) = comparative figures of 2015

Key succes factors vs. main barriers - ( ) = comparative figures of 2015

 

Compared to last year´s results customer satisfaction and loyalty are not significantly ahead of other drivers any more. Their importance as relevant object to pursue a Digital Banking strategy droped down by about 10 percent points. Increasing profitability now follows directly behind. UK banks rate financial performance higher than other countries.

Relevant business driver for Digital Banking - ( ) = comparative figures of 2015

Relevant business driver for Digital Banking - ( ) = comparative figures of 2015

 

Over a third of all banks perceive themselves as on a same level with their peers in terms of offering Digital Banking solutions. The rest of participants feels ahead or behind peers - one half each. German banks are more conservative than banks from all other countries which rate themselves as ahead of their peers (this is not a ranking but a self-perception).

Self-perception in terms of offering Digital Banking compared with competitors

Self-perception in terms of offering Digital Banking compared with competitors

Interested in more? Get detailed analysis and insights via download.

The status quo of Digital Banking in general and by country comparison

Visual roundup of results (english)

Visual roundup of results (deutsch)

Visual roundup of results (español)

Visual roundup of results (italiano)

Visual roundup of results (polski)

Visual roundup of results (portugués)

The secrets of Digital Banking

Infographic 2015 (english)

The status quo of Digital Banking in general and by country comparison

Visual roundup of results (english)

Visual roundup of results (deutsch)

Visual roundup of results (español)

Visual roundup of results (italiano)

Visual roundup of results (polski)

Visual roundup of results (portugués)

The secrets of Digital Banking

Infographic 2015 (english)