The threat to market share posed by fintech innovations is pressuring banks and financial services (BFS) companies to morph into technology companies. By investing in modern digital capabilities, such as software development, these companies seek to improve service delivery, back-office operations and decision-making, and to personalize and modernize the experience they deliver to customers.
This pivot to digital is driving BFS companies to embrace a lean start-up mindset. Agile product teams, modern work patterns and digital technologies are recasting how these organizations conceive, build and deploy software products and portfolios. We call this “digital engineering.”
In our work with BFS organizations around the world, the top three most-common goals we hear for digital engineering are: