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Transforming banking with digital economics

“Being digital” is no longer enough—it’s time to become digital entrepreneurs

To take full advantage of digital technologies, banks need to think like digital entrepreneurs. A deep understanding of digital’s potential, sound economic models and data-driven insights, will allow them to reimagine their digital strategies. Banks that successfully implement internal and external digital strategies can potentially:

  • Increase revenues by up to 55 percent over the next five years. Digital customer acquisition and cross-selling of new services will be the main drivers of this growth.

  • Reduce costs by up to 30 percent over the next five years. Process automation, distribution network optimization, application and infrastructure modernization and the use of transaction factories will be critical.

  • Achieve return on equity of approximately 15 percent in mature markets.

Banks can take three actions to generate more value from their digital investments: