TECH BUYER May 2020 - IDC Perspective - Doc # AP43346318

Data as an Asset: Building a Business Case for Data to Digital in Financial Services Institutions

By: Michael AranetaAssociate Vice President, IDC Financial Insights, Steve Shipley (EXT)Independent Contractor

Table of Contents

Executive Snapshot

Figure: Executive Snapshot: Building a Business Case for Data-To-Digital in Financial Services Institutions

Situation Overview

Figure: IDC's Data-To-Digital Framework

Building a Data-To-Digital Business Case

Mature FSIs Versus Challenges?

Figure: Cumulative Value Monetizing Legacy Data for Digital

Data-to-Digital Business Case Approaches

Table: Data-To-Digital Business Case Approaches

Assessing Digital Benefits

Figure: Bank Digital Benefit Examples

Data-To-Digital Benefits

Data Management and Maintenance Cost Reduction

DX Benefit Capture

Figure: Estimating DX Benefits Attributable to Data-To-Digital

External Data Revenue Streams

Figure: Seven Methods in Which FSIs Can Monetize Data

Data-To-Digital Investment Costs

Capability Building

Delivering Data-To-Digital

Figure: Digital Data Quality Characteristics Spectrum

Constructing the Data-to-Digital Business Case


Figure: Data-To-Digital Solution for One-Touch Claims Processing


Figure: Strategic Business Case Method


Investment and Funding Through an Internal Corporate Venture

Advice for the Technology Buyer

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Related Research



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