The digital offerings of 16 Spanish banks have recently been analysed to identify the level of digital maturity of the financial sector in Spain.
The study was based on 3 dimensions: organisation and solutions; customer experience; technological solutions.
It analyses the strategies and challenges that entities participants are carrying out in the current competitive context. The internal culture of the digital world has also been analysed.
For the respondents, the regulatory framework involves one of the biggest concerns for their organisation, rated by 81% of respondents, followed by the impact of disruptive technologies, with 69% of respondents.
The 3 strategies that carry the most weight for the entities analysed were: in first place digital transformation and Customer Centric (81%); secondly the maximising efficiency and reducing operating costs (69%); finally and thirdly, leveraging new sources of income (63%).
As for the most important challenges The first of these is the development of digital channels and their functionalities (81%), followed by the creating an internal digital culture (63%).
We are now trying to talk about the budget with which the Directorate of the Spanish financial institutions account to develop digital actions. The 27% of respondents has assessed that the percentage of this investment is less than 5% and also that the budget ranges between 10% and 15%.. Only the 15% allocates more than 15% of the investment to digital actions.
With regard to the digital actions that are developed currently by financial institutions, stands out with a 95% process automation or digitisation actions; in second and third place, is occupied by analytical models and development of new functionalities in digital channels, voted by 88% in both cases.
EL 69% of Spanish financial institutions are carrying out various initiatives. that promote innovation in the organisation: such as innovation labs and training. 13% of respondents say that they do not carry out any digital initiatives.
