The financial services marketplace, from large enterprise banks to adjacent industries like e-commerce, is growing more competitive every day. FIs need technology solutions that will maximize their investment returns and, at the same time, create a personalized experience with the customer at the center focus. This is an ongoing process and having a plan for digital transformation in place will help ensure your institution’s success.

While transforming your financial institution’s digital strategy can come with growing pains, building the right plan and execution strategy will make the process smoother and more efficient, resulting in your desired goal: overall growth and long-term transformation.

A great place to start planning is by examining the current state of your FI. Then, you can implement transitional steps and define the desired outcome of the transformation. One way you can determine just how deep your transition needs to go is to assess your products, services, employee experience and the overall effect on your customer base.

There’s a lot to consider as you’re trying to achieve strategic growth. Here are some key questions to answer as you consider your FI’s transformation:

• What are you trying to achieve and why?
• What is your roadmap for building target state systems and capabilities?
• What is your target market and digital product set?
• How long are you going to market your digital products?
• How are you going to set up your organization for success?

At nCino, we can help you plan your digital strategy based on your target goals no matter where you are on your journey.

Download nCino’s latest digital transformation infographic and let us know how we can help you on your digital journey!