The financial industry has changed exponentially over the past decade-and it continues to change. Transactions which were once only possible by personal visits to financial institutions can now be done on a mobile phone with just a few taps. If you have had to turn over a cash or a check directly to pay your bills in the past, you can now transfer funds online, whether to a relative or a company.
Yet, the focused effort of the industry has not brought about those improvements. Thanks to technological advances which have changed the way the world works, the finance sector has been forced to respond and adapt to the digital era of today. Unfortunately, so far, in their digital transformation, just 12 per cent of financial services companies are mature.
infographic by: prototype.net