2018-banking-financial-institution-predictions-forrester

According to Forrester, 2018 will be a challenge for most financial services organizations, with external forces and internal stagnation impacting profits and the ability to remain competitive. In the report, "Predictions 2018: Financial Services Companies Get Serious About Digital Transformation," Forrester issues a dire warning to organizations not prepared for the external changes occurring in the marketplace, or not willing to make internal adjustments that will differentiate their organization. According to Forrester, "Most companies will spend 2018 working on new initiatives to better win, serve, and engage customers, as regulators continue to promote competition. But while 2018 will bring many digital upgrades, few financial services companies will do enough to truly differentiate their brands and remain relevant to customers." In this early forecast of the financial services environment for 2018, Forrester shares 16 predictions and recommendations regarding external threats, competitive opportunities and organizational shortcomings, as well as recommended strategic action plans for each prediction.