The convergence of financial services and technology industries has created an age of uncertainty like never seen before, with innovations such as peer-to-peer payment technology and blockchain consistently disrupting infrastructure, operations and business models.
While these innovations drive more customer-focused solutions at lower costs, they are also putting unprecedented pressure on financial institutions to become more responsive and agile. In a recent PwC survey of the banking industry, 29% of respondents cited “research, development and innovation” as investment priorities, and many institutions are already launching initiatives or dedicated labs to drive innovation. But in a market changing at such extraordinary speed, one off initiatives and siloed projects aren’t enough.
View PwC's findings from a comprehensive global survey of over 1300 senior financial services and FinTech executives.