Five Digital Transformation Hurdles In Financial Services And How To Avoid Them

October 19, 2021  By HES FinTech
Five Digital Transformation Hurdles In Financial Services And How To Avoid Them


Digital transformation is not as straightforward and clear as it may seem: studies demonstrate that alerting 73% of digital transformations fail to produce sustained ROI.

At the same time, the pandemic motivated more companies to invest in technology updates and automation for remote interaction with their customers. In five years between 2020 and 2025, the value of digital is likely to grow more than twofold: from $ 470 billion to $ 1+ trillion.

How to increase the chance of getting an impressive ROI from digital transformation in finance?

What are the typical hurdles to be ready for?

Dmitry Dolgorukov, HES FinTech’s CRO and Co-Founder, shares tips on overcoming the five most typical challenges the financial institutions face during the tech revolution:

  1. Not having clear goals
  2. Not integrating the digital transformation into the overall business strategy
  3. Managing expectations
  4. Difficulties getting the team on board
  5. Lack of tech know-how.

In addition, Dmitry suggests taking three vital steps for digital transformation success.

Check them out in the article on Forbes:

FIVE DIGITAL TRANSFORMATION HURDLES IN FINANCIAL SERVICES AND HOW TO AVOID THEM

Be the first to read about the financial industry market statistics and trends: follow Dmitry on LinkedIn and subscribe to our blog updates.

Read also