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Oxford: Banking Innovation: How midsize banks are shifting strategy and adopting technology for sustained growth
Align growth goals with scalable, resilient technology.
This executive summary outlines how midsize banks are adapting strategy and technology to:
- Drive revenue and improve customer experience
- Use the cloud to enhance agility and optimize operations
- Apply AI for onboarding, analytics, and smarter decision-making
To get insight into how banks are modernizing for sustained growth, download the executive summary by completing the form.
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Midsize banks are prioritizing several growth objectives, with more than a third citing revenue growth as a top priority. Research indicates that 64% of banking respondents reported an increase in revenue over the past three years, with 10% experiencing growth exceeding 20%. Additionally, 79% have generated positive operating margin growth. Key objectives include attracting new customers, improving customer experience, retaining existing customers, and enhancing profitability.
How are midsize banks managing risks?
Midsize banks view risk management as critical, with the greatest threats identified as global issues like inflation and local competition from fintech companies. To address these risks, banking executives are leveraging technology, people, and data. They aim to establish data as a single source of truth to drive proactive decision-making. Effective risk management practices include employing intelligent automation and integrating enterprise resource planning (ERP) systems to enhance agility and efficiency.
What role does technology play in midsize banks' strategies?
Midsize banks are increasingly adopting innovative technologies, with 75% reporting the use of cloud solutions to enhance profitability and operational efficiency. Many are also planning to implement AI technologies in the next 12 months. These technologies are being applied to various banking processes, such as accelerating customer onboarding and improving the customer experience. However, banks must ensure that their data management practices are robust, as effective technology integration relies on accurate and comprehensive data.
Oxford: Banking Innovation: How midsize banks are shifting strategy and adopting technology for sustained growth
published by EPI-USE
EPI-USE offers trusted enterprise SAP solutions across Australia and beyond. Serving for over 40 years, we specialized in designing and implementing advanced enterprise systems tailored to different business needs. We have successfully delivered over 1,500 SAP implementations globally.
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Align growth goals with scalable, resilient technology.
This executive summary outlines how midsize banks are adapting strategy and technology to:
- Drive revenue and improve customer experience
- Use the cloud to enhance agility and optimize operations
- Apply AI for onboarding, analytics, and smarter decision-making
To get insight into how banks are modernizing for sustained growth, download the executive summary by completing the form.