All UK banks now have digital transformation strategies, says GFT survey

By Johan De Mulder

A new survey from IT consultancy GFT has found that every bank in the United Kingdom has set up a digital transformation strategy.

285 professionals from small to large finance companies from around the globe were interviewed for the research, with Switzerland joining the UK in having a 100% record for the implementation of digital transformation plans.

It revealed that AI is the main driver behind the change, with 83% of respondents recognising its importance to the banking industry over the next decade.

See also:

Satisfying customer expectations is also a key component of long-term strategies, with customers having more options than ever when it comes to their personal and business banking.

"If we look at the UK retail banking market as a whole, the customer is very much at the centre of most digital transformation projects," said Christian Ball, head of retail banking at GFT.

"It’s encouraging to see so many UK banks embracing new ways of working and recognising the increasing importance of these new technologies.

"As systems, skills and technologies develop, we’re looking forward to seeing even more examples of successful digital transformation projects in the market."


Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy