Following the global financial crisis 10 years ago, the global banking sector is noticeably healthier. Most banks expect revenues and profitability to improve over the next 12 months to 3 years, despite an increase of approximately 2.1% in costs.
EY commissioned ESI ThoughtLab to help it conduct research for its annual global banking outlook, examining changes in the global banking sector and how banks are adapting to them to ensure their survival and future success.
ESI ThoughtLab conducted a survey of 221 banking institutions across 29 global markets, looking at their top priorities and strategies as well as their progress in digital transformation. Our research revealed that 85% of banks plan to implement a digital transformation program in 2018 and 62% of banks expect to become digitally mature or digital leaders by 2020.