A recent McKinsey survey revealed that only eight percent of companies felt that their current business model would remain economically viable if their industry keeps digitizing at its current dizzying pace. At the heart of the challenges that financial services firms will face in this digital maelstrom is developing products that will give customers a positive digital experience. That's not just critical to success, it's table stakes for your business. Because, let's face it, many of today's digital products are not customer-friendly or customer-centric. Countless banks and financial services companies have spent precious resources attempting to build a new product or refresh an existing one, only to find it underperforming or failing completely. And while some companies are seeing a return on their investment, most are just struggling to break even.
It doesn't have to be like this. To win in today's ultra competitive digital environment, banking and financial services leaders need an alternative way of thinking. The sector should develop The Product Mindset®. Read on to learn more....