凱捷2019數(shù)字金融服務(wù)報告英文

1、Where are banks and insurers on theirdigital mastery journey?Global Digital Mastery Research Series:Financial Services2Status Check: Where are banks and insurers on their digital mastery journey?IntroductionThe financial services industry is in the epicenter of a perfect digital storm. It faces risi

2、ng customer expectations, increasing regulations, ever-growing competition from digital-native firms and FinTech startups, and relevancy challenges in a worldof connected services and sharing economies. How organizations battle the storm and their ability t strategies are critical.iver their digital

3、Our 2018 global research study, Understanding Digital Mastery Today, took a deep dive into digital transformation, drawing on the views of more than 1,300 executives from over 750 organizations around the world. Building on what we learned from that cross-sector program, our latest study focuses on

4、financial services (FS). We surveyed over 360 executives in 213 organizations that represented approximately $1.67 trillion in combined 2017 revenue. Participants from both banking (200 respondents in 125 organizations) and insurance (169 respondents in 88 organizations) were surveyed.This report fo

5、cuses on three key areas:1.2.How financial services firms stack up against other sectors in terms of digital and leadership capabilitiesHow the two sectors banking and insurance measure up against each other in both digital and leadership capabilities and the challenges that stand in the way of them

6、 achieving their ambitionsThe practices that separate financial services digital masters from the rank and file as well as recommendations for how to build digital mastery.3.3The scale of change in this new, open world is huge. Its not just a minor tweak the change is fundamental.To be disruptive, y

7、ou must produce something new and creative.Were looking for things that can be delivered into the hands of ourcustomers at scale. Thats our goal.”Kevin Hanley,Head of Innovation, Royal Bank of Scotland.Executive Summary Key TakeawaysDigital and leadership capabilities have not kept pace since 2012n

8、our 2012 research, 41% of financial services firms said they had the digital capabilities they needed.But six years on, our 2018 research shows that rather than progress and gains, fewer now believethecomplexities of the journey and the challenges of successful digital transformation.n 2012, 51% of

9、the sectors organizations said they had the leadership capabilities required fortransforming successfully. However, this fell to 41% in 2018.The transformation imperative takes center stage in banking, while insurance plays catch-upAlthough banks digital transformation journeys are underway, the ind

10、ustry has reached a crossroads asit attempts to meet the rising digital expectations of customers, manage cost pressures, and competewith technology upstarts. Fewer than half of banks (38%) say they have the necessary digital andleadership capabilities required for transformation.nsurance is catchin

11、g up with its banking peers. Only 30% claim to have the digital capabilities requiredand 28% the leadership capabilities necessary.4Status Check: Where are banks and insurers on their digital mastery journey?they have the required capabilities. Sentiment has dropped to37% as organizations comprehend

12、The practices that differentiate digital masters and the road to digital masteryDrawing on our research, we identified a group of high-performing organizations, which we call our “financial services digital masters”. We examined what they do differently in terms of digital capabilities and leadershi

13、p capabilities. We found that they:Align capabilities on the customer journey and invest in customer intelligence Banks: Focus on aligning cross-functional teams around customer journeys tiver with agility We found that banks are leading other sectors in terms of their customer experience capabiliti

14、es, butthere is still ample opportuto improve the customer journey. Sixty-four percent of the bankingsectors digital masters have “created better.”ae and journey maps to identify and serve customers Insurance: Invest in customer intelligence to shift to customer-centric ms The insurance sectors digi

15、tal masters are focused on extracting real-time and actionable insights to optimize products and customer engagement, with 79% of insurance digital masters pushingcustomized offers that closely meet the wants and needs of consumers. Open APIs will also help the insurance sector to integrate broader

16、and deeper customer data from sources such as social media, retailers, smart devices, and even competitors.Adopt the operating ms of tomorrow collaborative, innovative, and agile Banks: Embrace ecosystem thinking and drive an API strategy Banking digital masters focus on collaborative ms with third-

17、party players and support openAPIs to offer customers new services. We found that 64% of banks actively work with a wide ecosystem of partners such as startups, incubators, technology firms, and even competitors to co-develop solutions. Insurance: Cultivate agility, speed, and scale to design and cr

18、eate next-generation capabilities The insurance sectors digital masters focus on agile business ms, and are quick to test ideas, failfast, and learn faster. Sixty-three percent of insurance digital masters said that they test promising ideas quickly as a proof of concept (PoC) or a minimum viable pr

19、oduct (MVP).Develop a culture that is balanced between both customer and employee centricity and build an effective governance structure Banks: Focus on nurturing a culture based on bottom-up innovation and experimentation To remove innovation obstacles, the banking sectors digital masters are worki

20、ng to simplify funding procedures, implement digital tools and technology platforms that enable rapid development, and provide a platform for employees to execute those ideas. Banking digital masters are constantly evolving organizations which embrace a culture of test, learn and evaluate what works

21、, and if this does not work, they move ahead. Insurance: Establish collaborative governance frameworks Digital governance is a balancing act to allow for flexibility, organizations need to define guardrails rather than strict rules. We found that that 58% of the insurance sectors digital masters hav

22、e a digital unit and 67% say they have adjusted role descriptions and KPIs to align with their digital transformation objectives.5Digital and leadership capabilities have not kept pace since 2012“We believe that a successful digital transformation means a complete digital reimagination of all essent

23、ial business verticals.” Mrutyunjay Mahapatra, managing director andCEO of Indias Syndicate Bank and former chief digital officer of the State Bank of India.1In this section, we examine an apples-to-apples comparison between our 2012 and 2018 research so that we can gauge what progress has been made

24、. What we have found is that firms have, in fact, taken a reality check on the capabilities required for success:We established our digital mastery framework in 2012 based on two dimensions digital and leadership capabilities: In 2012, as Figure 1 shows, 41% said they had the digital capabilities th

25、ey needed. In 2018, this dropped to 37% as they reach a deeper comprehension of the complexities of the journey and the challenges that stand in the way of successful digital transformation. Digital capabilities cover the use of technology to change how a company interacts with customers, operates i

26、nternal processes, or defines its business mo Leadership capabilities are about creating conditions required to drive transformation. In 2012, they includedThis reality check reflects a number of pressures on the industry: the rapid pace of technology innovation, the ever- growing expectations of ma

27、rkets, employees, and customers, the relentless drive to attract the right talent, and thethe transformation vision, a governance mto lead thejourney, necessary information technology and business relationships to produce results, and employee engagement throughout the journey.emergence of disruptiv

28、e business ms and value chains.Figure 1: Financial services organizations that believe they have the digital and leadership capabilities needed: 2012 versus 2018Percentage of nancial services organizations believing they have the required capabilities51%41%41%37%Digital CapabilitiesLeadership Capabi

29、lities20122018Source: Capgemini Research Institute, Digital Mastery Survey, AprilMay 2018, N=1,338 all-sector respondents, N=757 all-sector organizations, N=369 financial services respondents, N=213 financial services organizations; Capgemini Consulting and the MITCenter for Digital Business, “The D

30、igital Advantage: How digital leaders outperform their peers in every industry,” 2012, N=391 all-sector organizations, N=59 financial services organizations.*Questions used in this analysis are the same in 2012 and 2018.6Status Check: Where are banks and insurers on their digital mastery journey?Cap

31、ability building has improved in some areas. For instance, 40% say they have the customer experience capabilities in place, up from 35% in 2012, but only 33% said they have the necessary operations capabilities (down from 46% in 2012).As Figure 2 shows, we also found that mastery of the required lea

32、dership capabilities has also fallen in a range of areas, from vision to governance.Figure 2: Financial services organizations that believe they have the digital and leadership capabilities in place: 2012 versus 2018Percentage of nancial services organizations believing they have the required digita

33、l capabilities46%40%35%33%Customer ExperienceOperationsPercentage of nancial services organizations believing they have the required leadership capabilities63%54%45%42%35%33%32%32%VisionGovernanceEngagementIT-Business Relationships20122018Source: Capgemini Research Institute, Digital Mastery Survey,

34、 AprilMay 2018, N=1,338 all-sector respondents, N=757 all-sector organizations, N=369 financial services respondents, N=213 financial services organizations; Capgemini Consulting and the MIT Center for Digital Business, “The Digital Advantage: How digital leaders outperform their peers in every indu

35、stry,” 2012, N=391 all-sector organizations, N=59 financial services organizations.* Questions used in this analysis are the same in 2012 and 2018.7Our digital mastery framework categorizes industries and organizations according to their relative digital masteryBeginners low mastery of both digital

36、and leadership capabilities Conservatives mastery of leadership but not digital capabilities Fashionistas mastery of digital but not leadership capabilities Digital masters mastery of both digital and leadership capabilities.Of the industries we surveyed in 2018, insurance had the highest percentage

37、 of digital beginners (56%) and the lowest percentage of digital masters (27%) compared with all other sectors (see Figure 3).Digital mastery in insurance varies widely by product line and distribution m. Property and casualtytransformation is more advanced than life insurance, and many agent-heavy

38、firms are laggards in exploring digital opportunities.2Figure 3: Less than a third of financial services organizations are digital mastersDistribution of banking and insurance organizations by the four groups of digital masteryInsurance3%Insurance27%Banking10%Banking31%FashionistasDigital MastersBan

39、kingInsuranceLeadership CapabilitySource: Capgemini Research Institute, Digital Mastery Survey; AprilMay 2018, N=1,338 all-sector respondents, N=757 all- sector organizations, N=200 banking respondents, N=125 banking organizations, N=169 insurance respondents, N=88insurance organizations; George Wes

40、terman, Didier Bonnet and Andrew Business Transformation,” Harvard Business Press, 2014., “Leading Digital: Turning Technology intoThirty-one percent of banking organizations are considered digital masters. However, banks are embracing digital transformation at different speeds, with around 50% of b

41、anking organizations falling within the beginner category.Many banking executives still think of digital as touchpoints or technologies rather than thinkingstrategically about how they can create and exploit digital assets tiver new sources of customer value,improve customer experience across touch

42、points and increase operational agility.38Status Check: Where are banks and insurers on their digital mastery journey?Digital CapabilityInsurance14%Banking9%ConservativesInsurance56%Banking50%BeginnersThe transformation imperative takes center stage in banking, while insurance plays catch-upIn our 2

43、018 research, we evolved the original 2012 minchannels, a host of InsurTech upstarts are ready to fill the digital gap, emerging technologies (e.g., blockchain, artificial intelligence, internet of things) and the sharing economy are posing new risks to the sector, and core business margin pressures

44、 are rising.both the digital and leadership dimensions. This was to reflect the latest advances in technology, the employee experience, and culture and talent (refer to Figure 13 in the appendix for more details).Today, many banks are embarked on their digital transformation journeys as they attempt

45、 to meet the rising digital expectations of customers and manage cost pressures. Royal Bank of Scotlands head of innovation, Kevin Hanley says, “The scale of change in this new, open world is huge.Its not just a minor tweak the change is fundamental. To be disruptive, you must produce something new

46、and creative.Were looking for things that can be delivered into the hands of our customers at scale. Thats our goal.”4“The insurance market itself is also going through some fundamental changes. The way we interact with big broker communities is changing from being very paper-based to being much mor

47、e API-based,” says Ian Penny, Group CIO at Hiscox, a Bermuda-based insurer listed on the London Stock Exchange.6Figure 4 compares the capabilities of these sectors against the non-financial services average. In banking, 38% say they have the necessary digital capabilities and 38% also say they have

48、the required leadership capabilities, which exceeds the non- financial services average. However, only 30% of insurance organizations claim to have the digital capabilities they need and 28% the leadership capabilities. This means that the industry not only falls below banking it also lags the non-

49、financial services average.An older demographic, underwriting expertise, and regulatory requirements have somewhat shielded the insurance industry from disruption.5 However, the industry has now reachedan inflection point. Tech-savvy consumers are demandingseamless access toalized services via a ran

50、ge ofFigure 4: The banking sector advanced its transformational capabilities while insurance fell behindPercentage of organizations believing they have the required capabilities in 201838%38%37%35%30%28%Digital CapabilitiesLeadership CapabilitiesBankingInsuranceNon-nancial servicesSource: Capgemini

51、Research Institute, Digital Mastery Survey; AprilMay 2018, N=1,338 all-sector respondents, N=757 all-sector organizations, N=200 banking respondents, N=125 banking organizations, N=169 insurance respondents, N=88 insurance organizations, N=969 non-financial services respondents, N=544 non-financial

52、services organizations.9Dimension One: Digital CapabilitiesWe found banks to be outpacing or at level with other sectors in most aspects of digital capabilities, whereas insurance trails the non-financial services average (see Figure 5).Figure 5: Banks lead insurance across thin capabilitiesPercenta

53、ge of organizations believing they have the required digital capabilities in 201841%37%36%35%35%34%34%34%30%29%29%29%Customer ExperienceOperationsBusiness M InnovationTalent and OrganizationBankingInsuranceNon-nancial servicesSource: Capgemini Research Institute, Digital Mastery Survey; AprilMay 201

54、8, N=1,338 all-sector respondents, N=757 all-sector organizations, N=200 banking respondents, N=125 banking organizations, N=169 insurance respondents, N=88 insurance organizations, N=969 non-financial services respondents, N=544 non-financial services organizations.Below, we look in more detail at

55、the four capability areas: Customer experience Operations Business minnovation Talent and organizationCustomer experiencedigital inititives, BBVA Compass increased its net promoter score (NPS) among commercial clients by 11 points year on year in 2018.With services increasingly becoming commoditized

56、, the financial services industry has become less about the transaction and more about customer experience, basedonalized interactions and simplified friction-freeInsurance, on the other hand, is playing catch-up. As digital blurs borders between industries, customers arebenchmarking the digital exp

57、erience of one industry against another. “Customers feel insurance companies should deliver a better experience, on the lines of digital platforms suchas Amazon, Uber, and Zomato. Thats the challenge we have taken up.” says Ravi Vishwanath, Executive Director and CEO of India based Reliance Health Insurance.10 Insurance firmstransactions. Previous Capgemini research placed the banking sector second after consumer products and retail when it came to a superior customer experience . For example, the digit