In the Bain study, Customer Loyalty in Retail Banking Report, consumers rated at least one large tech company higher than their primary bank for each of the four most important elements of value in banking: provides quality, saves time, simplifies, and reduces anxiety.
But that's not to say that all banks are in trouble. Some banks are moving up on their journey to regaining customer brownie points. The reality, however, is much needs to change for the industry to be the preferred banking platform for consumers.
The CFO has an important role to play in this transformation journey. The CFO is in one of the best positions to lead the finance function to transform financial services.
This Oracle paper lists four ways CFOs can kick-start smart innovation. It includes case studies of banks that have successfully transformed to be leaders in their market.
Modernising financial operations gives banks the ability to see what's possible without wasting precious time optimising outdated models and systems.
Click on the link to download this paper and find out how bank CFOs are evolving finance ops to lead strategic growth.