Thought Leadership |

How to Avoid 7 Common Digital Transformation Mistakes: Infographic

Other Topics

Digital Transformation

Region

Asia-PacificEuropeMiddle-East & AfricaNorth America
share

The market is constantly changing as customer needs evolve and technology advances. As financial institutions adapt to keep up with those changes, the need for a seamless, digital experience grows, too.

For most institutions, transforming your infrastructure takes time and hard work. That’s why it’s so important to know where your institution currently is and where you hope to be as your digital transformation strategy evolves. This kind of early preparation can help you navigate the challenges of a transformation and improve your chances of long-term success.

Here are a few suggestions to help you begin your digital journey!

  • Define target state objectives

  • Foster a collaborative environment

  • Confirm scope during planning

  • Maintain an integrated program plan

  • Establish project delivery methods

  • Manage risk and controls

  • Monitor resource capacity

Building a strong foundation with clearly defined goals and objectives is a powerful way to track your progress, and knowing who is responsible for which strategy can help strengthen leadership and accountability.

Are you ready to start preparing and planning for a seamless and efficient digital transformation that will optimize business processes and improve compliance?

Download nCino’s digital transformation infographic and let us know how we can help you on your digital journey!

Related Articles

Thought Leadership

Exploring the Digital Transformation of Credit Risk Management in Europe

In today’s financial landscape, digital transformation has become an essential priority for financial institutions (FIs), and credit risk management is no exception. Despite economic challenges, many banks are making significant investments in advanced technologies to fast-track their digital transformation. While cost pressures are considerable, the potential of technology to enhance automation and efficiency continues to drive these investments forward.

Big-EMEA-Report-Newsroom-Image
Thought Leadership

The Importance of AI Explainability

Artificial intelligence (AI) and machine learning (ML) are transforming how financial institutions approach many traditional banking processes. When it comes to AI in the financial services industry, the concept of explainability—i.e., the ability to clearly communicate the process behind AI’s decision-making and understand the model’s inner workings—is of the utmost importance.

Girl Short Hair Blue- Newsroom Stock Image
Thought Leadership

The Power of Automation and Augmentation in Credit Portfolio Management

Being a leader in the financial services industry requires a seamless approach to innovation and efficiency. One of the crucial elements to success is the integration of automation and augmentation into credit portfolio management, as these tools have the ability to transform operations, manage risk, and improve both banker and client experiences.

Guy Calling Phone Yellow- Newsroom Stock Image
Thought Leadership

The Mobile “Must-Haves” Reshaping Mortgage Technology

The mortgage industry has seen some significant changes in recent years with the introduction of digital technology solutions. Organizations are increasingly turning to technology for avenues of competitive advantage, leading many companies into a state of flux as they adjust their business model and digital mortgage strategies to create and maintain profitability with long-term success.

Girl Laptop Red- Newsroom Stock Image
Thought Leadership

Credit Portfolio Management: 5 Ways Financial Institutions Are Achieving Transformation

In the rapidly evolving lending landscape, caused in part by the bank failures of 2023, credit portfolios are facing significant stress and heightened challenges, including rising default rates, fluctuating interest rates, and economic uncertainty. Coupled with strict regulatory demands for risk differentiation and portfolio diversification, these pressures are exposing the limitations of current credit portfolio monitoring processes, which are often static, reactive and subjective. As a result, financial institution (FI) leaders are rethinking their credit portfolio management practices.



Couple Laptop Blue- Newsroom Stock Image