Digital transformation

In Financial Services

We combine our deep understanding of the financial services sector’s needs, risk and regulatory challenges with transformative technologies — including advanced analytics and artificial intelligence, next-generation data, robotics, cloud, blockchain, cybersecurity and innovation accelerators — to quickly and safely achieve business outcomes.

What EY can do for you

For financial services organizations, shifting to a fully digital enterprise requires a complete, wholesale overhaul of the entire operating model.  The unique intersection of technology, innovation, business model evolution and customer expectations contribute to digital transformation in banking, insurance and wealth and asset management.

Companies that lead with customer-centric approaches can generate the greatest value and maturity relative to their overarching digital enterprise transformation efforts.  Depending on an enterprise’s level of digital maturity, the transformation journey may look very different. Once a company decides to embark on digital transformation, our five key pillars underpin the digital transformation journey: Platform Thinking, Experience Thinking, Digitizing Legacy, Being Digital and Digital Trust.

 

  • Marketing transformation

    With digital becoming an essential part of the go-to-market strategy, business models are changing and marketing is transforming. This makes for a very exciting time in marketing.

    Fueled by technology, customers are in the driver’s seat, expecting tailored experiences across channels, platforms and media and choosing how they engage with brands. In response, today’s marketers have expanded their responsibilities beyond brand and acquisitions to the end-to-end customer experience, loyalty, technology and product innovation. Marketing organizations are also moving at great speed and are expected to deliver bottom-line results to the organization. At EY, we believe that marketing is most powerful when its influence is woven into the fabric of the organization, engaging customers, employees, communities and shareholders. We work with marketing leaders to

    • Develop an innovation strategy designed to stay ahead of changing customer needs and disruptive forces
    • Transform marketing to an agile, digital and customer-centric organization, operating effectively at scale
    • Create a connected brand experience across channels and technologies to differentiate the brand, improve campaign performance and increase customer loyalty
    • Use analytics and artificial intelligence to improve reach, customer engagement and revenue growth
    •  Leverage advanced technology to create a personalized and connected experience across marketing, sales and service
  • Digital trust by design

    Innovative products and services are establishing new ways of doing business to create more value for financial services institutions.The use of emerging technology to optimize current processes and become more efficient, however, is creating new risks and additional exposures

    At the heart of the new paradigm is adaptive risk management — incorporating the management of risks associated with the digital transformation from the front office to the back office (digital risk management), as well as fully testing and deploying digital strategies to better manage risk (digitizing risk management).

    This paradigm shift will be a reimagined and transformed risk function, with a unit that enables the organizational agility needed to embrace risk, promote a more predictive risk approach, and harness new technologies and risk ecosystems to drive improved outcomes and lower costs without losing the independent perspective that is so important to managing risk.

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