Intelligent CIO Europe Issue 49 - Page 43

FEATURE : 2022 TECHNOLOGY FORECAST the transition to new working models took second and third position . The survey of over 200 leaders in the UK financial services sector suggests that the challenges they face are being driven by shifts in customer and employee behaviours and expectations , accelerating the shift in adopting digital channels .
However , it also points to the huge variety of concerns on leaders ’ minds – from compliance and regulation to customer service , building operational resilience while also reducing property space . With threequarters currently overseeing Digital Transformation programmes , 84 % are investing in transformation of back-office operations to support these priorities .
Back-office transformation a priority for financial service providers
As ever , leaders continue to face budgetary constraints . Cost-cutting ranked second in their list of priorities for the next year . While four in five are including back-office transformation within the scope of their Digital Transformation programmes , 46 % said that the biggest challenge to reducing costs is the concentration on front-end customer communications and not back-office operations .
Reflecting this , a third said their organisations are suffering from siloed IT systems and manual processing , with a lack of automation further
www . intelligentcio . com INTELLIGENTCIO EUROPE 43