The Reset
Accelerating the business value of technology in Financial Services

Boston Consulting Group (BCG) and Salesforce have collaborated to explore how modern technology platforms can help the financial services industry unlock significant value, accelerate transformation outcomes, and deliver greater experiences for customers.

While the value at stake is significant, successful transformation through technology is not guaranteed. Drawing on insights from other successful endeavours, this paper explores how financial institutions can realise the true value of contemporary technology platforms. It identifies the common pitfalls that financial institutions experience, which can lead to lower value creation, increased costs and longer delivery timelines. It also reveals how industry trailblazers have:

• increased their odds of success when implementing new technology platforms
• accelerated value creation, and
• used technology as a catalyst for wider transformation

The findings of this paper are underpinned by quantitative and qualitative research, including survey responses from across all levels of the financial services landscape. The paper also includes insights from key industry leaders, complemented by experience from Salesforce and BCG.

• Part 1 - explores the value that a modern technology platform can unlock for financial institutions.
• Part 2 - dissects the common pitfalls that prevent organisations unlocking the enduring value of a modern technology platform.
• Part 3 - defines three ways to extract value faster, that ultimately enables technology to become a catalyst for transformation outcomes. This section includes insights from pioneering organisations that are leading a new wave of success.