Digital transformation has cemented its place as one of the dominant business trends of recent years, with analysts predicting the sector will grow to an impressive $1.8 trillion by 2028. However, for companies operating in the notoriously conservative world of finance and banking, a successful move into the digital domain requires significantly more than investing in a few pieces of new technology and sending midlevel managers on a training course.
According to research from Everest Group, almost 80% of digital transformation initiatives fail to deliver on their ambitions. The group cited struggles with corporate culture and mindset as one of the most common causes of this failure.
