Global Study: Are Financial Services Firms Doing Enough to Build Organizational Agility?

Global Study: Are Financial Services Firms Doing Enough to Build Organizational Agility?

There’s no question that financial services companies still want to thrive in the digital era. The global pandemic has starkly highlighted the need to be able to make changes to the business on the fly. It’s not lack of desire that’s keeping financial services firms from achieving organizational agility. The problem lies in the prevalence of legacy tech and bureaucratic culture. The future belongs to financial services firms that integrate agility into the nuts and bolts of running the business, from the planning process to the decision-making structure and more.

That’s among the findings of the financial services sector in our global survey of 998 executives, “Organizational Agility at Scale: The Key to Driving Digital Growth.” The majority recognize that driving digital growth is critical to their long term success. And, perhaps more tellingly, we found that there is a strong relationship between digital revenue growth and organizational agility.

We identified five key behaviors that are crucial to organizational agility, and then grouped survey respondents based on their level of adoption of these behaviors. “Leaders” (15% of respondents) achieved high performance across all five of the behaviors, while “aspirers” (30% of respondents) achieved high performance in four of them, and

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