This IDC Perspective describes a meeting among Canadian IT leaders in the financial services sector who met in a virtual roundtable on March 25, 2021. The panelists discussed the significant shifts in the business transformation agendas, as organizations rewrite their digital focus to address changes in customer sentiment, industry ecosystems, and socioeconomic factors. With an eye to the financial services sector, the discussion focused on the need to accelerate impactful work that will keep up with or be ahead of changes in competitive but cooperative industry ecosystems.
"Financial services firms are challenged to deliver meaningful customer engagement transformation while faced with direct competition from sophisticated fintechs where legacy systems, processes, and people are not an inhibitor," notes Alizabeth Calder, adjunct analyst with IDC's IT Executive Programs (IEP). "At the end of the day, success will go to the players that deliver the trusted service for customers and meet the post-pandemic needs of stakeholders."