What banks need for the digital transformation

Author: John Crabb | Published: 2 Nov 2018

Large banks must take steps to ensure they have strong, innovative leaders in place and adopt the correct insightful strategies if they are to stay ahead of the technological curve. Embracing technological innovation through fintech investments and strategic partnerships is crucial, as is maintaining agility as customer expectations and competition from fintech startups changes the playing field.

This was the message at the FT US Banking Forum yesterday in New York, during the Engines of Innovation: Driving Success in a Digital Ecosystem session. Barry Hurewitz, global head of evidence lab innovations at UBS, told the forum that this process must start with strategic insight.

"It doesn’t happen typically at the top of the bank, it happens at the business unit, even at product level or product management, somebody has to get an insight into...