October 18, 2018

The Quantitative Impact of Digital Transformation

The scale of financial commitment to digital transformation The evolution of bank-FinTech narrative towards a hybrid model ensures short-term gains in terms of ROI, long-term bets on specific technologies, the FinTech product roadmap being in line with the bank’s own roadmap, etc. Source: MEDICI’s 2018 Global State of FinTech Report In their effort to automate more parts of their businesses, about 50% of the world’s financial services firms are planning to acquire FinTech startups in the next several years. About 8 out of 10 institutions foresee making strategic partnerships with P2P lenders, digital money transfer platforms, and a myriad other firms that are reshaping the business of money. A number of institutions start with creating internal innovation engines in forms of API markets, developer hubs and portals — Visa Developer Center, Capital One’s DevExchange Developer Portal, Citigroup’s global API developer hub, BBVA API Market, and more. Digital transformation touches every…

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