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Skyrocketing regulatory and compliance costs, increased competition from nimble new entrants to the market, and recent changes to data privacy laws pose significant challenges for financial institutions struggling to maintain revenue growth, profitability and customer satisfaction. Compounding this issue, IT budgets are often committed to costly and unavoidable infrastructure systems, leaving very little budget, time or flexibility to drive innovation and support strategic goals like improving business processes, customer experience and revenue generation. To counter this, leading financial institutions must rebalance the ratio of IT spending away from “keeping the lights on” toward more customer-facing revenue generating opportunities.
In this recorded webinar, Todd Lohr, Principal, U.S. Practice Leader for Digital Enablement at KPMG LLP, and Michael Heffner, Vice President — Global Industry Leads at Appian, discuss how financial institutions can convert their cost centers into revenue generation centers.